KEC International
Price on 16/7/99:59.95
Price on 9/7/99:40.90
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The KEC International scrip shot up 49 per cent last week. The company has just concluded its restructing erercise which has rerated the scrip. The company has implemented several initiatives recommended by micKinsey to increase operational efficiencies. Accordingly, if embarked on a multi-pronged strategy which makes shift from a function based organisation to a project based one.
The company has also put up a good performance in 1998-99. Its net profit grew 22 per cent to Rs 29.11 crore while turnover increased 45 per cent to Rs 1009.8 crore. The company will begin 1999-2000 with a prder worth Rs 925-crore for four projects in Syria, Saudi Arabia, Abu Dabi and Indonesia. It also set up a new offices in international markets including Indonesia, Vietnam and South Africa. KEC is also building transmission lines for the 630 MW Bakreshwar power project.
There is a proposal to merge KEc International with a group company RPG Transmission, both R P Goenka group companies. But nothing concrete has emerged.