KEC International rose 2.87% to Rs 86 at 13:26 IST on BSE after the company secured new orders of Rs 1565 crore in its Transmission & Distribution and Cables businesses.
The announcement was made during market hours today, 6 April 2015.
Meanwhile, the S&P BSE Sensex was up 64.37 points or 0.23% at 28,324.51
On BSE, so far 3.76 lakh shares were traded in the counter as against average daily volume of 1.37 lakh shares in the past one quarter.
The stock hit a high of Rs 87 and a low of Rs 83.50 so far during the day. The stock had hit a 52-week high of Rs 153 on 8 July 2014. The stock had hit a 52-week low of Rs 66.55 on 4 April 2014.
The stock had outperformed the market over the past one month till 1 April 2015, rising 1.89% compared with 3.75% decline in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 11.72% as against Sensex's 2.74% rise.
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The small-cap infrastructure company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.
In Transmission & Distribution businesses, KEC International secured orders in India, Bangladesh, Oman, Malaysia and the Americas amounting to Rs 1458 crore. In India, the company secured orders aggregating of Rs 1185 crore. In International market, the company secured orders of Rs 251 crore for construction of transmission lines and supply of transmission towers in Bangladesh, Oman and Malaysia.
In Cables business, KEC International secured orders of Rs 107 crore for the supply of power and telecom cables.
Vimal Kejriwal, MD & CEO, KEC International commented that with the recent orders win, the company's year end order book has strengthened considerably especially in the Transmission and Distribution Business. This combined with strong L1 pipeline will help the company deliver robust performance in the financial year ending 31 March 2016, Vimal Kejriwal said.
On consolidated basis, KEC International's net profit rose 246.9% to Rs 66.43 crore on 7.3% decline in net sales to Rs 2021.19 crore in Q3 December 2014 over Q3 December 2013.
KEC International is global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission, power systems, cables, railways, telecom and water.
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