KEC International bags Rs 1,423 crore orders, shares jump 5%

6 Sep 2024 , 01:38 PM

KEC International’s shares rose 5% to Rs 1,039 on the BSE on Friday after the company announced fresh orders totalling Rs 1,423 crore. The contracts cover the design, delivery, and construction of 380 kV transmission lines in Saudi Arabia.

Vimal Kejriwal, MD & CEO of KEC International, stated, “These orders in Saudi Arabia, along with previous orders in the UAE and Oman, have further strengthened our position in the Middle East and significantly increased our international T&D order book. Our year-to-date order intake exceeds Rs 11,300 crores, representing a 75% increase from the previous year.

In addition to these recent accomplishments, KEC International received new orders totalling Rs 1,079 crore last month for its T&D and cables segments. These include a 765 kV/400 kV transmission line project in India, 230/132 kV projects in Saudi Arabia and Oman, a 400 kV upgrade in the UAE, and supply contracts throughout the Americas. New orders have also come in for cables in both domestic and international markets.

At 1:35 p.m., the stock was trading 1.22% higher at Rs 999.8 on the BSE. It is up 65% year to date and roughly 150% over the last two years.

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