 "KEC International soars 9%; hits new high on winning Rs 816 cr new orders")
Shares of KEC International hit a record high of Rs 795.25, as they surged 9 per cent on the BSE in Thursday's intra-day trade on winning new orders worth of Rs 816 crore across its various businesses.
The stock of the civil construction company surpassed its previous high of Rs 769.50 touched on March 11, 2024. At 09:23 am; it was trading 8 per cent higher at Rs 788.20, as compared to 0.6 per cent rise in the S&P BSE Sensex.
KEC International said it secured orders for infrastructure projects in India, which include setting up of a steel plant in Northern India, building a cement plant in Central India and establishing a plant for Carbon derivates in Eastern India.
The company's transmission & distribution business secured orders for supply of towers in the United States of America. The cable business secured orders for supply of various types of cables in India and overseas.
With these Rs 816 crore orders, the company's total order intake for FY24 stands at Rs 18,102 crore. “These orders along with the orders announced earlier during the year, reaffirm our confidence in achieving the targeted growth trajectory in the future,” the management said.
KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Oil & Gas Pipelines, and Cables.
Last month, KEC International had secured new orders worth Rs 1,004 crore including the railway business for 2 x 25 kV Overhead Electrification (OHE) and associated works for speed upgradation in India. The management had said they are enthused with the Railway order in the Semi High-Speed Rail under Mission 'Raftaar'.