KEC International stock price gains 3% on securing orders of Rs 1,142 crore

KEC International share price: Shares of KEC International rose up to 3.13 per cent to hit an intraday high of Rs 960.20 per share on Thursday, October 24, 2024.

 

The stock of KEC International rose after the company announced that it has secured orders worth Rs 1,142 crore.

 

In an exchange filing, the company said, “KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs 1,142 crore across its various businesses.”

 

The company’s Transmission & Distribution (T&D) division has secured contracts for projects in the Middle East and the Americas. These include a 380 kV transmission line in Saudi Arabia and the supply of towers, hardware, and poles in the Americas.

 

In India, the company has been awarded a contract for the construction of bridges and related works for a conventional railway line. Furthermore, the company has obtained orders for the supply of various types of cables, both domestically and internationally.

 

“We are pleased with the continuous inflow of orders. Our international order book has seen significant growth in recent months, particularly in the Middle East, driven by a series of successful order wins in Saudi Arabia and UAE. We are also enthused by the order in Railways, which strengthens our portfolio in the conventional Railway segment. With the above orders, our Y-T-D order intake stands at about Rs 13,500 crore, reflecting a robust growth of over about 50 per cent compared to last year,” said Vimal Kejriwal, MD & CEO of KEC International.

 

KEC International reported a net profit of Rs 87.6 crore in Q1FY25, from Rs 42 crore a year ago (Q1FY24). Revenue soared 6.3 per cent annually to Rs 4,512 crore.

 

KEC International is a global player in infrastructure Engineering, Procurement, and Construction (EPC). The company operates across various sectors including Power Transmission and Distribution, Railways, Civil Engineering, Urban Infrastructure, Solar Energy, Oil & Gas Pipelines, and Cables. As a flagship entity of the RPG Group, KEC International maintains a robust global presence.

 

The company is actively engaged in executing infrastructure projects in over 30 countries and has established its footprint in more than 110 countries.

 

Its operations span across EPC services, supply of towers, and cables, reflecting its diversified capabilities and expansive reach in the global infrastructure landscape.

 

Tha market capitalisation of KEC International is Rs 24,744.62 crore, according to BSE.

 

At 9:42 AM, KEC International shares were trading 0.16 per cent lower at Rs 929.55 per share. By comparison, BSE Sensex was trading 0.30 per cent lower at 79,840.59 levels.