KEC International Shares Soar To 52-Week High On Rs 1,012 Crore Order

On Tuesday, the company announced that it has secured new orders of Rs. 1,012 crores across its various businesses. The firm has secured orders from new clients in the Data centre and FMCG segments

On BSE, KEC International shares soared to a 52-week peak of Rs 739.00 per share. At 12.30, the shares of infrastructure major were trading 12.60 per cent higher at Rs 677.00 per share.

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The share price of KEC International on Wednesday surged over 12 per cent to hit a 52-week high following the company announcement of new orders worth Rs 1,012 crore, yesterday. On BSE, KEC International shares soared to a 52-week peak of Rs 739.00 per share. At 12.30, the shares of infrastructure major were trading 12.60 per cent higher at Rs 677.00 per share. 

 

On Tuesday, the company announced that it has secured new orders of Rs. 1,012 crores across its various businesses.  The Civil business has secured orders from new clients in the Data centre and FMCG segments in India for building a Data centre in Western India. The company has also secured an order for setting up of manufacturing facility for a global FMCG major in Southern India. 

 

In the transmission and distribution (T&D) segment, the business has secured orders for T&D projects in India and the Americas, the firm said. It includes 765 kV transmission line order in India from an existing private client and supply of towers, hardware, and poles in the Americas. In the Cables sector, the business has secured orders for the supply of various types of cables in India and overseas, the  RPG Group subsidiary said. 

 

Vimal Kejriwal, MD and CEO of KEC International Ltd said, “The civil business continues to diversify its customer base, with the addition of marquee clients. The prestigious order for building a Data centre, reaffirms our confidence in the strong growth of this segment. We are particularly encouraged by the continuous inflow of tower supply orders from the North American market. With the above orders, our YTD order intake stands at a record level of over Rs. 6,500 crores, a strong growth of 11 per cent vis-à-vis last year.”

According to a report by Mint, KEC International's share price has gained more than 13 per cent in the last month with the stock trading up over 43 per cent this year so far.