Stock Market today: KEC International share price gained 9% in the morning trades on Thursday as it announced ₹1,171 crore worth new Transmission & Distribution order inflows from Middle East.
KEC International share price opened at ₹897.85, slightly higher than ₹867.30 on Thursday on the BSE. It thereafter gained to intraday highs of ₹947.85 markings gains of more than 9%
In a release on the exchanges, the infrastructure EPC major, an RPG Group Company, KEC International said that it has secured new orders in its Transmission and Distribution (T&D) business for 400 kV Transmission line in the United Arab Emirates (UAE), 380 kV Transmission line in Saudi Arabia.
With the above orders, our year to date order intake stands at ₹10,000 crores, a stellar growth of 80% compared to last year, highlighted Vimal Kejriwal, MD & CEO, KEC International Ltd. These orders, coupled with the orders announced earlier during the year, reaffirm confidence on the company achieving its targeted growth.
“We are delighted with the ongoing success in our T&D business, highlighted by a series of significant order wins. The sustained inflow of orders in the Middle East has substantially expanded our International T&D order book.” said Vimal Kejriwal in a statement.
KEC international share price already has gained 13% in the past few 5 trading sessions. The order inflows announced on Friday and Wednesday have led to these gains.
KEC International a few days back had announced Rs. 1,079 crores in Transmission & Distribution (T&D) and Cables businesses:
In the Transmission & Distribution (T&D) business, KEC International has secured orders from India, Middle East and America.
While 765 kV/ 400 kV Transmission lines order were received by KEC International from a reputed private developer in India, another 230/132 kV Transmission line orders in Saudi Arabia and Oman in addition to an Upgradation order for an existing 400 kV Transmission Line in the United Arab Emirates (UAE). It aliso had received orders for Supply of towers, hardware and poles in Americas
In the Cables business, it secured orders for supply of various types of cables in India and overseas.
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