Shares of KEC International rose 4% on Monday, 2 December, after the company announced new orders worth Rs 1,040 crore on Friday, causing the stock price to soar.
According to the company’s statement, the infrastructure of EPC major and an RPG Group company has obtained new orders in their transmission and distribution (T&D) business in international markets. These orders include the delivery of towers, hardware, and poles in America and 220 kV transmission lines in the CIS.
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Vimal Kejriwal, MD & CEO of KEC International, said, “We are delighted with the continuous order wins in our T&D business. The order in CIS has reinforced our presence in this region and further strengthened our international T&D order book. Our subsidiary, SAE Towers, has secured multiple orders across the USA, Mexico, and Brazil, demonstrating an uptick in the American T&D market. With these orders, our YTD order intake now stands at over Rs. 17,300 crores, reflecting a remarkable growth of 75 per cent vis-à-vis last year.”
KEC International is a major operator in infrastructure engineering, procurement, and construction (EPC) worldwide. Power transmission and distribution, railroads, civil engineering, urban infrastructure, solar energy, oil and gas pipelines, and cables are just a few industries in which the company works.
The company’s stock has grown 76% yearly, outperforming the market.
At 2:15 pm, the shares of KEC International were trading 0.57% higher at Rs 1,058.1 on BSE.
