 "KEC International")
Shares of KEC International hit a new high of Rs 739 as they rallied 11 per cent on the BSE in Wednesday's intra-day trade after the company said it has secured new orders worth Rs 1,012 crore across various businesses.
With these orders, the company's year-to-date order intake stands at a record level of over Rs 6,500 crore, a strong growth of 11 per cent over the last year, the company said.
The stock of the flagship company of the RPG Group surpassed its previous high of Rs 699 touched on August 2. At 09:16 AM, it was quoting 7 per cent higher at Rs 711, as compared to 0.12 per cent decline in the S&P BSE Sensex.
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The company’s transmission & distribution (T&D) business has secured orders for T&D projects in India and Americas. This includes 765 kV Transmission line order in India from an existing private client, and supply of towers, hardware and poles in Americas, KEC International said in an exchange filing.
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.
Meanwhile, KEC International, in its FY23 annual report, said that the company is proactively working on expanding the railway business to the international market by leveraging its reach in the Transmission & Distribution business. In view of the buoyant investment outlook in the railways sector, the business with its multidisciplinary expertise is expected to deliver growth over the next few years.
"With a strong diversified order book of over Rs 10,000 crore, the civil business is confident of leveraging the upcoming growth opportunities through its diversified presence across sectors, strong project management and execution capabilities, financial strength, and persistent focus on implementing leading-edge construction technologies at its projects," the company said.
