KEC International at new high

about 2 months ago
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On the back of over 10x surge in volumes, KEC International, in this lacklustre market is the current top gainer. Opening 4% higher at Rs.757.05, the stock surged 15% to hit a new 52-week high at Rs.836.85.

The reason for this new high? Securing of orders worth Rs.816 crore across its various businesses.

Giving a break-up of the orders, the company said:

• Civil: The business has secured orders for infrastructure projects in India:

• Metals & Mining: Setting up of a Steel plant in Northern India

• Cement: Building a Cement plant in Central India

• Carbon Black: Establishing a plant for Carbon derivates in Eastern India

• Transmission & Distribution (T&D): The business has secured orders for supply of towers in the United States of America.

• Cables: The business has secured orders for supply of various types of cables in India and overseas.

The company said that with these orders, its total order intake for FY24 stood at Rs. 18,102 crore and goes on to reaffirm its confidence in achieving the targeted growth trajectory in the future.

Prior to this, in late March’24, the company had secured similar orders across all its businesses worth Rs.1002 crore.

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