KEC International has secured new orders amounting to Rs 1,061 crore across various business segments, leading to a 4 percent rise in its share price during early trading on June 10. By 9:25 AM, the company's shares were trading at Rs 799.95 on the BSE, up Rs 32.10, or 4.18 percent.
The company's Transmission & Distribution (T&D) business has received orders for projects in India, East Asia Pacific, and the Americas.
These include transmission lines and substation orders from a reputable private developer in India, an additional order for a transmission line in Malaysia, and the supply of towers, hardware, and poles in the Americas.
In its Railways business, KEC International has secured orders in both technologically advanced and conventional segments in India.
This includes the company’s first order for composite gauge conversion works and the setup of a power supply system, including a receiving substation, high-voltage cabling, and associated civil works for Bengaluru Metro Rail Corporation (BMRC).
The Cables business has secured orders for the supply of conductors and cables.
This includes the supply of power transmission conductors from a well-known infrastructure player in India and the supply of various types of cables in India and overseas.
Additionally, on June 6, KEC International’s civil business secured orders worth Rs 1,002 crore.
These orders encompass residential projects in northern and southern India from renowned real estate developers, as well as the construction of official residences and associated facilities for defense officials.
Despite this positive news, brokerage house Motilal Oswal has maintained a neutral rating on the stock with a target price of Rs 710
