KEC International hits 52-week high on securing new orders worth Rs 1,373 crore

“We are pleased with the new order wins secured across our business verticals, especially in Railways. In line with Government’s focus on increasing capacity, speed and safety of Indian Railway network, we have forayed in the emerging segment of Automatic Block Signalling (ABS) to increase line capacity through automation,” said Vimal Kejriwal, MD & CEO, KEC International.

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KEC International share price gained 6 percent in early trade on June 14 as the company secured new orders worth Rs 1,373 crore across its various businesses. The share price touched a 52-week high of Rs 586. The Railways business of the company has secured orders in the technologically-enabled and conventional/emerging segments in India.

The orders included signalling and telecommunication for automatic block signalling (ABS) system, 2 x 25 kV overhead electrification (OHE), and associated works for speed upgradation.

The company’s civil business has secured orders in the residential and commercial building segments in India.

Its Transmission & Distribution (T&D) business has secured orders for T&D projects in India and Americas, including a 400-kV transmission line order in India, supply of towers in India and the US, and supply of towers, hardware, and poles in Americas, secured by its subsidiary SAE Towers.

The Cables business has secured orders for various types of cables in India and overseas.

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“We are pleased with the new order wins secured across our business verticals, especially in Railways. In line with Government’s focus on increasing capacity, speed and safety of Indian Railway network, we have forayed in the emerging segment of Automatic Block Signalling (ABS) to increase line capacity through automation,” said Vimal Kejriwal, MD & CEO, KEC International.

“Our Civil business continues to witness an exponential growth trajectory which is reflected in the orders secured. The repeat order in T&D from an existing private developer reaffirms the growth of the India T&D business. We are also witnessing a good traction in the tower supply orders, especially in North America,” he added.

At 09:24 hrs KEC International was quoting at Rs 580.30, up Rs 28.70, or 5.20 percent on the BSE.