KEC International bags new orders worth ₹1,025 Crore

27 Jun 2024 , 01:57 PM

On Thursday, June 27, KEC International shares rose by up to 10%, reaching an all-time high of ₹950 per.

On Wednesday, June 26, the infrastructure giant reported receiving fresh orders totaling ₹1,025 Crore in its T&D and cables operations.

In the T&D sector, Power Grid Corporation of India Ltd awarded the company a 765 kV GIS substation project in India. It also obtained a 225-kV composite project in West Africa, which comprises substations, transmission lines, and underground cabling.

Meanwhile, in the Americas, KEC International will supply towers, gear, and poles, bolstering its foothold in the region. The cable industry has also witnessed significant orders, with new contracts for the provision of various types of cables both in India and abroad.

With the orders announced on Wednesday, the company’s order intake this year has topped ₹9,000 Crore, representing a remarkable increase of more than 70% over the previous year, according to the company’s managing director and CEO.

These orders in addition with the orders received earlier during the year, reaffirm our confidence in achieving the targeted growth going forward,” said the CEO.

Earlier last month, the business announced that it had won orders worth ₹1,061 Crore. It stated that it has received several orders throughout its transmission and distribution, railways, and sabinets.

Earlier this month, the company received orders totaling ₹1,002 Crore for its civil business. The orders include residential projects in northern and southern India from prominent real estate developers, as well as the construction of official houses and accompanying amenities for senior Indian defence officials, according to a corporate statement.

At around 1.17 PM, KEC International was trading 4.35% higher at ₹901, against the previous close of ₹863.40 on NSE. The counter touched an intraday high and low of ₹950, and ₹898, respectively.

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