KEC International stock price rises after bagging orders worth Rs 1560 crore

According to the regulatory filing, the new orders are for transmission & distribution (T&D) projects in India, from PGCIL under the tariff-based competitive bidding (TBCB) route.

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KEC International stock price was trading in the green on March 23, a day after the company bagged orders worth Rs 1560 crore from Power Grid Corporation of India Ltd.

According to the regulatory filing, the new orders are for transmission & distribution (T&D) projects in India, from PGCIL under the tariff-based competitive bidding (TBCB) route. This includes a 765 kV transmission line, 765/400 kV AIS substation, and 765 kV GIS substations, it said.

Vimal Kejriwal, MD and CEO of KEC International, said these orders along with the orders announced earlier during the year, have significantly enhanced our order book in the domestic T&D market.

Also read: Anupam Rasayan stock gains on bagging Rs 984-crore order

Earlier KEC International also secured new orders of Rs 1,131 crore across its various businesses. The transmission & distribution (T&D) business secured orders in India, Africa and Americas including composite package including 220 kV & 132 kV GIS & AIS Substation, transmission line and underground cabling 330 kV electrical transformer station project in Africa and supply of towers in the US. It also bagged orders for large tower supply in Mexico, secured by its subsidiary, SAE Towers.

Interestingly, last month, the firm bagged orders of Rs 3,023 crore last month including transmission & distribution projects in the Americas while the civil business secured orders for executing infra works in the water pipeline and commercial building segments in India.

KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major and the flagship company of the RPG Group.

At 11:43 hrs KEC International was quoting at Rs 470.65, up Rs 3.45, or 0.74 percent on BSE. It has touched an intraday high of Rs 475.00 and an intraday low of Rs 467.70.