KEC International hits lifetime high on securing order worth Rs 1040 cr

Shares of KEC International reached their lifetime high at Rs 1098.95 per share, rising 4.17 per cent on the BSE in Monday’s intraday trade. The stock price surged after the company on Friday disclosed new orders worth  Rs 1,040 crore.

 

The infrastructure EPC major, and an RPG Group company secured the new orders in its transmission and distribution (T&D) business in the international markets that includes supply of towers, hardware and poles in Americas and 220 kV transmission lines in CIS, the company said in a statement. 

 

“We are delighted with the continuous order wins in our T&D business. The order in CIS has reinforced our presence in this region and further strengthened our International T&D order book. Our subsidiary, SAE Towers, has secured multiple orders across USA, Mexico and Brazil, demonstrating an uptick in the American T&D market. With these orders, our YTD order intake now stands at over Rs. 17,300 crores, reflecting a remarkable growth of 75 per cent vis-à-vis last year,” said Vimal Kejriwal, MD & CEO, KEC International. 

 

 

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. 

 

On the equities front, KEC International’s stock has outperformed the market year to date as it has risen 76 per cent, while gaining 81 per cent in the last one year. In comparison BSE Sensex has risen 10 per cent year to date and 18 per cent in a year. 

 

The company has a total market capitalisation of Rs 28,573.91 crore. Its shares are trading at a price to earnings multiple of 125 times and at an earning per share of Rs 8.54. 

 

At 9:49 AM; the shares of the company were trading 1.53 per cent higher at Rs 1071.05 a piece. By comparison, the BSE Sensex was down 0.07 per cent at 79,743.61 level.