Kale Consultants rise on bagging overseas order; analysts maintain caution

NEW DELHI: Kale Consultants has moved up 9% to Rs 78.50 after the company said that a leading South American airline LAN has selected REVERA Interline service for processing their passenger interline billings.

“REVERA Interline will enable LAN to instantly comply with IATA’s SIS (simplified interline settlement) requirements, improve interline billing accuracy and rejection rate and strengthen airline cash flows,” Kale Consultants said in a filing to the stock exchanges.

The stock opened at Rs 72.45 and hit a high of Rs 78.50 after the announcement on the BSE.

Analyst Call:

“Kale Consultants Ltd has earlier resisted any movement on the upside once in April and again in July and similarly this time also,” said Rajat Bose of rajatkbose. com.

“So unless we see Kale Consultants really taking out this moving average at Rs 78.55, I do not think that we should read too much into this development. The recent upmove is more of a sporadic buying and will peter out once the news flow is through,” added Rajat.