KEC International wins new orders of Rs1,123 crore; Stock soars 2%

21 Sept 2022 , 01:37 PM

KEC International Ltd stocks in the fast on Wednesday after secring new orders of Rs1,123 crore across its various businesses:

Transmission & Distribution (T&D): The business has secured orders for building substations in India:

• 400 kV Digital GIS Substation order in India, from Power Grid Corporation of India Limited (PGCIL)
• 400 kV GIS Substation order in India, from a reputed industry

Railways: The industry has bagged an order for construction of bridges and associated works for new railway line in the conventional segment in the country.

Civil: The business has secured an order for infra works in the Hydrocarbon segment in India.

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

Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, “We are pleased with the new order wins, especially the consistent order inflows in Domestic T&D business. These orders along with the orders announced earlier during the year, have significantly enhanced our order book in T&D and diversified our clientele.

We are particularly enthused by the order in Railways, which further consolidates our leadership in the conventional Railway segment. The order in Civil has strengthened our presence in the growing hydrocarbon segment. With these orders, our YTD order intake has now surpassed Rs. 7,000 crores, a robust growth of ~25% vis-à-vis last year.”

At around 1:33 PM, K E C International Ltd is currently trading at Rs432.35 per share up by Rs8.1 or 1.91% from its previous closing of Rs424.25 per share on the BSE.

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