Stock market today: KEC International Ltd’s share price rose more than 9% in morning trading on Monday as the company won a major order worth ₹1,079 Crore in the Transmission and Distribution (T&D) and Cable business segments
KEC International’s share price opened at ₹889.65 almost 6% higher on the BSE on Monday. The share price of KEC International subsequently rose to ₹916.95, which represents a gain of over 9%.
Order wind details
KEC International Ltd., an RPG Group company and a global infrastructure EPC group, announced that its Transmission & Distribution (T&D) business has received orders for T&D projects in India, the Middle East and the Americas.
In India, the company has received an order for 765 kV/400 kV transmission lines from a renowned private developer.
Orders for 230/132 kV transmission lines were secured in Saudi Arabia and Oman.
In the United Arab Emirates (UAE), KEC International has received orders for the modernization of an existing 400 kV transmission line
In America, KEC International will supply towers, hardware and masts.
In the cable segment, KEC International has received orders for the supply of various types of cables in India and overseas.
The significant orders from Saudi Arabia, Oman and the United Arab Emirates have significantly increased KEC International T&D’s order book in the Middle East, emphasized Vimal Kejriwal, MD & CEO of KEC International. With these orders, KEC’s order intake has exceeded the ₹8,700 crore, representing an impressive growth of ~60% year-on-year.
“We are pleased with the continuous inflow of orders, especially in our T&D business. The prestigious order from a private developer in the Indian T&D space has strengthened our presence in the Indian T&D market and further diversified our customer base,” Kejriwal said in a statement.
