Shares of KEC International rose 4% on Monday after the company received orders worth Rs 1,079 crore.
What happened: On Friday after the market closed, KEC International announced that it had secured new orders worth Rs 1,079 crore in the transmission and distribution (T&D) and cable businesses.
In T&D, the company received orders from India, the Middle East and the Americas. KEC received an order for 765-kilovolt/400-kilovolt transmission lines from a renowned private developer in India, orders for 230/132-kilovolt transmission lines from Saudi Arabia and Oman, and the upgrade of an existing 400-kilovolt transmission line in the United Arab Emirates.
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In America, the company won a contract to supply towers, hardware and masts. In addition, the company won a contract to supply various types of cables in India and overseas.
Vimal Kejriwal, Managing Director and CEO of KEC International, said the company’s order intake reached Rs 8,700 crore, up 60% from the previous year.
In its third quarter results, the company reported a 6% year-on-year increase in revenue to Rs 4,511.89 crore, while net profit more than doubled to Rs 87.58 crore.
Price promotion: Shares of KEC International rose 4.13% to ₹874.55 on Monday morning
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