KEC International Stock Soars 3% Over Rs 1000 Cr Worth New Orders
KEC International secures new orders of Rs. 1,079 crore in transmission and distribution (T&D) and cables businesses
The share price of KEC International climbed 3 per cent in the Monday trading session after the engineering, procurement and construction (EPC) firm secured new orders worth over Rs 1,000 crore.
KEC International stock traded at Rs 866 with 3.21 per cent gain in the morning session on the National Stock Exchange (NSE).
KEC International, an RPG Group Company, secured new orders of Rs. 1,079 crore in transmission and distribution (T&D) and cables businesses.
The firm secured orders for T&D projects in India, Middle East and Americas. The orders included 765 kV/400 kV transmission lines order from a private developer in India.
Further, 230/132 kV transmission line orders in Saudi Arabia and Oman, and upgradation of an existing 400 kV transmission line in the United Arab Emirates (UAE).
Additionally, the firm will also supply towers, hardware and poles in the Americas along with the supply of various types of cables in India and overseas.
“We are pleased with the continuous inflow of orders, particularly in our T&D business. The prestigious order in India T&D from a private developer has enhanced our presence in the India T&D market and further diversified our clientele,” said Vimal Kejriwal, MD & CEO, KEC International.
Kejriwal further highlighted that the significant orders across Saudi Arabia, Oman and the UAE have substantially expanded the International T&D order book in the Middle East. With these orders, YTD order intake has surpassed Rs 8,700 crore, reflecting an impressive growth of 60 per cent compared to last year.
