KEC International secures new orders of Rs1,294 crore; Stock slips 2%

17 Nov 2022 , 12:06 PM

KEC International Ltd., a global infrastructure EPC major, an RPG Group Company has received new orders of Rs1,294 crore across its various businesses:

Transmission & Distribution (T&D):
The business has secured a large order for supply of towers in Americas, secured by our Brazilian subsidiary, SAE Towers.

Railways:
The business has secured two orders for Ballastless Track works (BLT) from Chennai Metro and Mumbai Metro in the technologically enabled 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 continuous order wins across businesses. The order in Americas is one of our largest tower supply orders, which significantly enhances our international T&D order book. This order also reaffirms our confidence of a revival in the performance of our Brazilian subsidiary in the upcoming quarters.

We are also enthused by the orders in Railway business, which has further strengthened its presence in the tech-enabled areas of Metro Rail. With these orders, our YTD order intake stands at ~Rs11,800 crore, a robust growth of ~20% vis-à-vis last year.”

At around 12:10 PM, K E C International Ltd is currently trading at Rs429.30 per share down by Rs9.65 or 2.2% from its previous closing of Rs438.95 per share on the BSE.

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