KEC International extends rally, gains 3% on bagging Rs 1,304-cr orders
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In the last year, the stock has gained 36 percent on the exchanges, higher than Nifty’s 21 percent during the same period
Shares of KEC International Limited advanced 3.2 percent to Rs 644 in early trade on January 30, extending gains for the straight second trading session, after the company announced it has received orders worth Rs 1,304 crore across various businesses.
In the transmission and distribution segment, the RPG Group company has secured projects in India, SAARC, and the Americas, it said in an exchange filing on January 29.
At 9:20am, the stock was trading at Rs 638, up 2.2 percent from the previous close on the NSE. The stock gained 36 percent on the exchanges last year, higher than the Nifty’s 21 percent rise during the same period.
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KEC International has secured multiple orders, including a 765-kilovolt transmission line and 765-kilovolt GIS substation, from Power Grid Corp. Additionally, the company won 220-kilovolt transmission line orders in SAARC and secured projects for the supply of towers, hardware, and poles in the Americas.
KEC International has also secured an order in the residential building segment in India on the civil front. Additionally, the company has secured orders for the supply of various types of cables in India and overseas, it said in the regulatory filing.
“We continue to remain optimistic about the India T&D business, on the back of the continued thrust of the government for setting up of renewable energy projects,” Vimal Kejriwal, CEO of the company, said after bagging the order. Data shows that its year-to-date order win stands at Rs 13,000 crore.
The company is involved in global infrastructure engineering, procurement and construction (EPC). It has a presence in the verticals of power transmission and distribution, railways, civil, urban infrastructure, solar,
oil and gas pipelines, and cables.
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