KEC International stock price rallies 9% on Rs 1,025 crore-order win

KEC International stock in focus: Shares of construction engineering company KEC International zoomed as much as 9.05 per cent to hit an intraday high of Rs 941.05 per share. 

The uptick in share price came after KEC International announced that it has secured new orders worth Rs 1,025 crore for its T&D and cables business.

In the Transmission & Distribution sector, KEC International has secured several contracts including a 765 kV GIS Substation project in India from Power Grid Corporation of India Limited (PGCIL); a comprehensive 225 kV Composite project involving Transmission lines, Substations, and Underground cabling in West Africa; and Supply contracts for towers, hardware, and poles in the Americas.

 

Regarding its Cables business, KEC International has secured orders for supplying various types of cables both in India and internationally.

“We are pleased with the continuous inflow of orders, especially in our T&D business. The orders in T&D have substantially expanded our order book in both domestic and international markets. With the above orders, our year-to-date (Y-T-D) order intake has surpassed Rs 4,000 crore, with a staggering growth of over 70 per cent vis-à-vis last year. These orders along with the orders announced earlier during the year, reaffirm our confidence in achieving the targeted growth going forward,” said Vimal Kejriwal, MD & CEO, KEC International Ltd.

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 23,429.75 crore, according to Bombay Stock Exchange (BSE).

At 9:36 AM, KEC International shares were trading 6.89 per cent higher at Rs 922.45 per share. By comparison, BSE Sensex wastrading 0.21 per cent higher at 78.511.14 levels.