 "KEC International share price zooms 9% on new order wins; check details")
KEC's shares in focus: KEC International share price soared up to Rs 916.95 per share, zooming 9.16 per cent on the BSE in Monday’s intraday trade. The stock price jumped after the company won new work orders on Friday, worth Rs 1073 crore.
The company bagged these orders in the transmission and distribution (T&D) and cables businesses, including projects in India, Saudi Arabia, Oman, UAE, and the Americas.
The projects include a 765 kV/400 kV transmission line order from a major private developer in India, 230/132 kV transmission line orders in Saudi Arabia and Oman, an upgrade of a 400 kV line in the UAE, and supply of towers, hardware, and poles in the Americas.
Additionally, the cables division has obtained orders for various types of cables both domestically and internationally, the company said in an exchange filing. KEC International's year-to-date order intake has surpassed Rs 8,700 crore.
“The order in India T&D from a private developer has enhanced our presence in the India T&D market and further diversified our clientele. The significant orders across Saudi Arabia, Oman and the UAE have substantially expanded our International T&D order book in the Middle East. With these orders, our YTD order intake has surpassed Rs 8,700 crores, reflecting an impressive growth of 60 per cent compared to last year,” said Vimal Kejriwal, MD & CEO, KEC International.
The company is a global infrastructure EPC (engineering, procurement, and construction) firm, operating across power T&D, civil, railways, urban infrastructure, renewables, oil & gas pipelines, and cables.
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The company is executing projects in over 30 countries and has a presence in more than 110 countries, including EPC, supply of towers, and cables. It is the flagship company of the RPG Group.
It has a total market capitalisation of Rs 22,331.98 crore. The shares of the EPC major are trading at a price to earnings multiple of 122.78 times with an earning per share of Rs 6.84, according to the data available at BSE.
At 10:41 AM; the share price of the company was trading 3.42 per cent higher at Rs 868.70 per share on the BSE. By comparison, the BSE Sensex was up 0.79 per cent at 81,724 levels.