KEC International bags new order worth Rs 1,007 crore; stock jumps ~8%

21 Aug 2023 , 10:40 AM

KEC International’s stock price jumped 8% in early trade on August 21 after the company received orders worth Rs 1,007 crore across multiple sectors. On the NSE at 09.50 a.m., the stock was trading at Rs 674.90, up roughly 5% from the previous close.

The civil division of the company received an order for the design, engineering, procurement, and building of a multi-specialty hospital in India. Its transmission and distribution (T&D) division won a contract for a 380 KV overhead transmission line project in the Middle East. And its cable division got orders for various types of cables in India and abroad.

KEC International earned fresh orders of Rs 1,065 crores across multiple sectors in August.

In the fiscal quarter ending June FY24, the company’s consolidated profit increased by 36.5% to Rs 42.33 crore, while revenue increased by 27.90% to Rs 4,243.59 crore, compared to Q1FY23.

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