KEC International wins New Orders of Rs. 1,681 crore

KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs. 1,681 crore across its various businesses:

The Transmission & Distribution business has secured orders of Rs. 1,287 crore for T&D projects from Power Grid Corporation of India Ltd. (PGCIL) and other customers in India, SAARC and the Americas.

The Civil business has secured an order of Rs. 254 crore for infra works in the Water Pipeline segment in India.

The Smart Infra business has secured an order of Rs. 63 crore as a Master System Integrator for Smart City ICT Components for a greenfield smart city in India.

The Cables business has secured orders of Rs. 77 crore for various types of cables in India and overseas.

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, "We are delighted with our new order wins, especially the prestigious fast track orders in the Green Energy Corridor from PGCIL. These orders secured under the Tariff Based Competitive Bidding (TBCB) route will contribute significantly towards the growth in the Domestic T&D market which had been sluggish for past few quarters. We are also pleased with the second order secured in the water pipelines segment, which further strengthens the portfolio diversification in our Civil business. The above orders will play a significant role in maintaining our revenue growth in the coming quarters."

Shares of KEC INTERNATIONAL LTD. was last trading in BSE at Rs.430 as compared to the previous close of Rs. 436.95. The total number of shares traded during the day was 9635 in over 331 trades.

The stock hit an intraday high of Rs. 442.3 and intraday low of 426.8. The net turnover during the day was Rs. 4159450.

Source : Equity Bulls

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