KEC International hits all time high on new orders of Rs 1,423 cr; details: KEC International share price
Source: Business Standard
KEC International hits new high: Shares of construction engineering company KEC International jumped as much as 5.05 per cent to hit a fresh record high of Rs 1,039 per share on Friday, September 6, 2024.
The uptick in KEC International share price came after the company announced that it has secured orders worth Rs 1,423 crore.
In an exchange filing, KEC International said, “KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs. 1,423 crores for Design, Supply and Installation of 380 kV Transmission Lines in Saudi Arabia.”
Under the terms of the order, KEC International will be responsible for the design, supply and installation of 380 kV transmission lines in Saudi Arabia.
“We are happy with the continuous inflow of orders, especially in our T&D business. These orders in Saudi Arabia along with the earlier orders in UAE and Oman have further reinforced our leadership in the Middle East and substantially enhanced our international T&D order book,” said Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, “
The year-to-date order intake now stands at over Rs 11,300 crore, including latest orders. This reflects a growth of about 75 per cent compared to last year.
KEC International is a global player in infrastructure Engineering, Procurement, and Construction (EPC). The company operates across various sectors including Power Transmission and Distribution, Railways, Civil Engineering, Urban Infrastructure, Solar Energy, Oil & Gas Pipelines, and Cables. As a flagship entity of the RPG Group, KEC International maintains a robust global presence.
The company is actively engaged in executing infrastructure projects in over 30 countries and has established its footprint in more than 110 countries.
Its operations span across EPC services, supply of towers, and cables, reflecting its diversified capabilities and expansive reach in the global infrastructure landscape.
Tha market capitalisation of KEC International is Rs 26,558.51 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE500 category.
At 9:22 AM, KEC International shares were trading 4.45 per cent higher at Rs 1,033.05 per share. By comparison, BSE Sensex was trading 0.24 per cent lower at 82,001.49 levels.
First Published: Sep 06 2024 | 9:25 AM IST
