KEC International opened itself 5% higher at Rs.469, just 3.5% lower than its 52-week high of Rs.486.45. In one year’s time, the stock has been a major gainer, rising almost 150%.
The stock price rise has almost always been about receipt of orders and this time too, the price is buoyant after a new order.
The company said that it has secured new orders of Rs. 1,429 crores across its various businesses:
Transmission & Distribution (T&D): The business has secured orders of Rs. 701 crores for T&D projects from Power Grid Corporation of India Ltd. (PGCIL) and other customers in India, East Asia Pacific and the Americas.
Railways: The business has secured orders of Rs. 366 crores in the emerging segments in India
Cables: The business has secured orders of Rs. 44 crores for various types of cables in India and overseas
Civil: The business has secured orders of Rs. 318 crores from reputed private players for infra works in the cement, residential and metals & mining segments in India.
With these orders in the bag, the company’s current year order inflows have exceeded Rs. 11,000 crores.