 "KEC International hits 52-week high on securing large order; details here")
KEC International’s shares jumped 7.3 per cent to Rs 968.20 per share on the BSE in Wednesday’s early morning trade. The share price of the company has surged 23.8 per cent in the last one month, while rallying over 60.72 per cent in the last six months.
However, today’s surge in the stock price came after the company on Tuesday announced that it has bagged new orders worth Rs 1,017 crore in the transmission & distribution (T&D), and clean energy sectors.
With this, the company's year-to-date (YTD) order intake has exceeded Rs 5,000 crore.
The company has a total market capitalisation of Rs 24,662.49 crore. It is presently trading at a price to earnings multiple of 157.33 times with an earning per share of Rs 5.74.
At 09:48 AM; the stock of the company was up 5.97 per cent at Rs 956.55 a piece on the BSE. By comparison, the BSE Sensex index was up 0.72 per cent at 80,014 levels.
Financial performance
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The company's consolidated net profit surged 110.3 per cent to Rs 151.75 crore in the fourth quarter of fiscal year 2023-24 (Q4FY24) as compared with Rs 72.17 crore posted in Q4FY23. Net sales stood at Rs 6,164.83 crore, registering a growth of 11.6 per cent year on year.
KEC International is an infrastructure engineering, procurement, and construction (EPC) company. It has a presence in the verticals of power transmission and distribution, railways, civil infrastructure, urban infrastructure, solar, oil and gas pipelines, and cables.