KEC International opened flat but soon rose over 4% to hit an intraday high at Rs.449.65 and is now trading at Rs.443 levels. Its 52-week high is at Rs.550.
The stock price rose after the company announced today morning that it has secured new orders of Rs. 1,065 crores across its various businesses:
Transmission & Distribution (T&D): The business has secured orders for T&D projects in India, Middle East, Africa, and Americas.
Railways: The business has secured an order for construction of Railway Siding in the conventional segment in India.
Civil: The business has secured an order for infra works in the Water Pipeline segment in India.
Oil & Gas Pipelines: The business has secured an order for laying of oil and gas pipeline, through its wholly owned subsidiary, Spur Infrastructure/
Cables: The business has secured orders for various types of cables in India and overseas
With these orders, the company’s YTD order intake stands at Rs. 11,000 crore with a strong growth of 2.5 times (YoY).