KEC International Shares Slide Over 7% as Power Grid Debars Firm from New Tenders for 9 Months

Overview

KEC International's stock price fell more than 7 percent on November 19 after Power Grid Corporation of India debarred the company from participating in its new tenders and being awarded contracts for a period of nine months. This action is due to alleged transgressions of contractual provisions linked to a bribery scandal previously reported in March.