KEC International zoomed 14.01% to Rs 830.60 after the civil construction company secured new orders worth Rs 816 crore across its various businesses.
The civil business has received orders for infrastructure projects in India. The projects 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.Also, the firm's transmission & distribution (T&D) business has bagged orders for supply of towers in the United States of America.
Further, the cables business has secured orders for supply of various types of cables in India and overseas.
Vimal Kejriwal, MD & CEO, KEC International commented, Our Civil business has made remarkable strides by expanding its footprint in the industrial segment with multiple orders for establishing manufacturing facilities across India. The business has also widened its customer base with the addition of a highly reputed client. With these orders, our total order intake for FY24 stands at Rs 18,102 crore.
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.
The companys consolidated net profit stood at Rs 96.87 crore in Q3 FY24, steeply higher from Rs 17.60 crore posted in Q3 FY23. Net sales stood at Rs 5,006.72 crore in Q3 FY24, jumped 14.4% year on year.
The scrip hit an all time high of Rs 838.25 in todays intraday session.
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