KEC International’s shares climbed over 5% early on August 29, reacting to the announcement of new T&D orders totaling Rs 1,171 crore from the Middle East. The surge reflected investor enthusiasm following news of the significant contracts secured in the region.
The company has secured a 400 kV transmission line project in the UAE and a 380 kV line in Saudi Arabia, enhancing its position in the international market. These projects are key contributors to the substantial growth of KEC International’s order book.
By 09:21 AM, KEC International’s stock price had increased to Rs 916.80, up by Rs 49.50 or 5.71%, on the BSE. This increase is a testament to the market’s positive reception to the company’s recent achievements and prospects.
Vimal Kejriwal, MD & CEO of KEC International, expressed satisfaction with the performance of the T&D sector, noting a year-to-date order intake of approximately Rs 10,000 crores, an 80 percent increase over the previous year. This reflects robust growth and strong market demand.
Additionally, KEC International reported new orders worth Rs 1,079 crore in the last week in the T&D and cables sectors, bolstering their market position. For the quarter ending in June, the company’s net profit stood at Rs 87.6 crore, more than doubling from Rs 42 crore year-over-year.
