KEC International Surges 8% After Securing Multiple Orders

KEC International witnessed an 8% surge in its shares, reaching Rs. 829 per share on the BSE during Monday's intraday trading. Over the past six months, the company's share price has risen by 31.67%, and in the last year, it has rallied over 44%.

This spike in stock price follows the company's announcement on Friday regarding new orders worth Rs 1,061 crore across its various business segments.

The transmission and distribution (T&D) business of KEC International secured orders for projects in India, East Asia Pacific, and the Americas. These orders encompass transmission lines and substation projects in India, an additional order for a transmission line in Malaysia, and the supply of towers, hardware, and poles in America.

In addition, the Railways business obtained orders in both technologically enabled and conventional segments within India. Notably, it received its inaugural order for composite gauge conversion works and the establishment of a power supply system, including substations, high-voltage cabling, and associated civil works, from the Bengaluru Metro Rail Corporation (BMRC).

The cables business of KEC International also clinched orders for the supply of conductors and cables.

Vimal Kejriwal, MD & CEO of KEC International, expressed, "Our Railway business has further expanded its presence in the technologically enabled areas of metros with the addition of a new client and secured its first order for Gauge conversion works. With these orders, our Year-to-Date order intake stands at over Rs 3,000 crores, marking a robust growth of 30% compared to last year."

In Q4FY24, KEC International's consolidated net profit surged by 110.3% to Rs 151.75 crore compared to Rs 72.17 crore in Q4FY23. Net sales also witnessed growth, standing at Rs 6,164.83 crore, marking an 11.6% increase year-on-year.

As of 10:54 AM, the company's stock was up by 7.18% at Rs 823 per share on the BSE, while the BSE Sensex index showed a marginal increase of 0.09%.

KEC International operates as an infrastructure engineering, procurement, and construction (EPC) company, with a presence in various sectors including power transmission and distribution, railways, civil, urban infrastructure, solar, oil and gas pipelines, and cables.

BS