Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

KEC International's announces sale of holding in its subsidiary KEC Bikaner Sikar Transmission Pvt. Ltd

Posted On: 2019-02-09 23:57:19

KEC International Ltd.(KEC), a global infrastructure EPC player has today announced the successful sale of its 99.99 % stake in KEC Bikaner Sikar Transmission Private Limited (KECBSTPL) to Adani Transmission Ltd. (ATL) at an Enterprise Value of~ Rs. 227.5 Crore. The completion of t he transaction has been achieved post satisfaction of all customary closing conditions, including all requisite approvals. The sale was previously announced on November 3, 2018, and has completed effective today.

KECBSTPL is having an operational transmission line of 344 ckt. Kms in the state of Rajasthan from Bikaner to Sikar.

Brief Overview of the Asset:

KEC Bikaner Sikar Transmission Private Limited holds a minimum 25 years concession license to operate and maintain a 400 kV D/C Bikaner- Sikar Line of 344 Ckt kms in Rajasthan. The project was awarded through competitive bidding process, the project was physically completed almost four months ahead of schedule by KEC International Ltd. The line was commissioned in December, 2017 and since then has been in successful operation.

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, "We are happy to successfully complete the sale transaction of our entire stake in KEC Bikaner Sikar Transmission Pvt. Ltd. to ATL. Our decision to sell our stake in KECBSTPL is in line with our asset light model of operations. This sale is in line with KEC's strategy to focus on its core EPC business."

Shares of KEC INTERNATIONAL LTD. was last trading in BSE at Rs.253.95 as compared to the previous close of Rs. 255.7. The total number of shares traded during the day was 14812 in over 453 trades.

The stock hit an intraday high of Rs. 257 and intraday low of 251.7. The net turnover during the day was Rs. 3757723.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Adani Defence Systems and Technologies Ltd acquires Alpha Design Technologies Pvt Ltd

Shilpa Medicare Ltd receives US FDA approval for Busulfan Injection

Indag Rubber Ltd Board recommends Final Dividend of Rs. 1.50 for 2018-19

Avantel Limited bags order from Boeing

Shilpa Medicare Ltd receives EIR from USFDA for R&D unit at Modavalasa

HDFC Bank Ltd Board recommends Dividend of Rs. 15 for 2018-19

HDFC Bank announces Q4, FY2018-19 results

Indag Rubber Ltd Q4 PAT slides to Rs. 1.91 crore

SVP Housing Ltd updates on changes in board

Kridhan Infra Ltd appoints Ms. Rajeshree Mishra as CFO

NELCO Ltd board to approve dividend, Q4, FY19 results on April 27, 2019

Shilp Gravures Ltd board to consider FY19 results on April 27, 2019

Gravita Tanzania Ltd commences Commercial Production of Lead from its Plant situated at Tanzania, East Africa

Maithan Alloys Ltd board to announce Q4, FY19 results on April 30, 2019

HDFC Bank Ltd reports net profit of Rs. 22332.44 crores in FY 2018-19

Syngene International Ltd board to consider bonus issue on April 24, 2019

Reliance Industries updates on cash payment for oil supplies to PDVSA

SKP Securities Ltd board to consider Q4, FY19 results on April 27, 2019

HDFC Bank Ltd reports net profit of Rs. 22445.62 crores in FY 2018-19

Alicon Castalloy announces Q4 & FY19 Earnings

Tata Coffee Limited announces results for Q4 and FY 2018-19

Wipro Ltd clarifies on cyber attack

Majesco crushes attendance records at Convergence 2019

Wockhardt Ltd board to consider financial results, fund raising on May 6, 2019

Reliance Capital terms rating action by Brickwork as unjustified and inappropriate

Raymond Limited board to approve Q4, FY19 results, dividend on April 30, 2019

KPR Mill Ltd board to consider FY19 results, dividend and buy back

UN extends contract of Trigyn Technologies Inc for another 6 months

DCM Shriram Limited board to announce Q4, FY19 results on May 1, 2019

Deltron Ltd Board to consider Dividend on April 26, 2019

Kirloskar Ferrous Industries Ltd board to approve Q4, FY19 results on May 3, 2019

Sadhana Nitro Chem Ltd revises record date as May 3, 2019 for interim dividend

Tata Coffee Ltd board approves Dividend of Rs. 1.50 for 2018-19

Alicon Castalloy Limited Board recommends Final Dividend of Rs. 5 for 2018-19

Johnson Controls-Hitachi Air Conditioning India Ltd calls for board meeting on May 16, 2019

Thangamayil Jewellery Ltd to open two new branches on April 26, 2019

Asian Granito India Ltd forays into Sanitaryware

Victoria Mills Ltd Board to consider Dividend on May 2, 2019

USFDA classified as VAI for Dr. Raddy's Laboratories Ltd's Forumulations Plant

Shiva Cement Ltd calls for board meeting on April 23, 2019

CRISIL reaffirms rating of Indo National Ltd

Intellect recognized as a Leader for Worldwide End-to-End Corporate Banking Solution Providers 2019 by IDC MarketScape

Trent Ltd Board to consider FY19 results & Dividend on April 29, 2019

Borosil Glass Works Ltd makes additional investment in Klasspack

TATA Coffee Ltd consolidated Q4 FY19 net profit drops to Rs. 10.49 crores

Alicon Castalloy Ltd Q4 FY19 consolidated PAT jumps to Rs. 15.89 crores

Orient Electric Ltd board to announce Q4, FY19 results, dividend on April 30, 2019

Majesco announces ready-to-use partner apps in Majesco Digital1st EcoExchange™

Timex appoints Ajay Dhyani as the Head Marketing

Bajaj Finance Ltd launches five digitally-enabled Fixed Deposit service branches in Pune







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019