KEC International Bags Orders Worth Rs 1,224 Crore, Shares Rise
KEC International shares rise as company wins multiple orders worth Rs 1,224 crore
Shares of KEC International Ltd. rose as much as 7.5 percent to Rs 145.5 after the company announced it received orders worth Rs 1,224 crore in India, Thailand and Bangladesh.
The transmission and distribution division bagged orders worth Rs 805 crore, the company said in a press release. Of this, two domestic orders from Karnataka Power Transmission Corporation Ltd. for supply and construction of transmission lines at Jagalur and Gadag districts in Karnataka, accounted for Rs 562 crore. The remaining Rs 216 crore came from two international orders.
- Rs 173 crore turnkey order for the construction of 500 kilo volt transmission line at Thai/Laos border from Electricity Generating Authority of Thailand.
- Rs 43 crore turnkey order for the construction of 132 KV transmission lines from Power Grid Company of Bangladesh Ltd.
“The order win in Thailand is a significant step in our pursuit to diversify our geographic spread into the ASEAN region”, Vimal Kejriwal, the managing director and chief executive officer of KEC International said in the press release.
KEC’s railway vertical won Rs 110 crore order from Rail Vikas Nigam Ltd. and Rs 138 crore contract from Central Organisation for Railway Electrification.
The cables division secured a Rs 171 crore order for the supply of telecom and power cables.