KEC International Wins Orders Worth Rs 1,192 Crore; Stock Gains
KEC’s T&D business wins Rs 859 crore orders from India, Africa, Americas
Shares of engineering and construction company KEC International Ltd. rose after its various divisions won orders amounting to Rs 1,192 crore.
The transmission and distribution business of the company won orders worth Rs 859 crore across India, Africa and the Americas, the company said in a press release. This includes orders totalling Rs 659 crore for 765 kilovolt and 400 kV transmission lines across India and supply orders worth Rs 228 crore from Africa and Americas. KEC also won a turnkey engineering, procurement, construction order from Brazil, the company’s seventh in the Latin American country.
While the cables business secured supply orders worth Rs 105 crore, the railways business won orders worth Rs 120 crore for overhead electrification in the North-Western region.
The solar business won orders for providing turnkey EPC solutions to solar power projects. These orders will help consolidate the position of the company, Managing Director and Chief Executive Officer, Vimal Kejriwal said in the press release.
In the T&D business, with substantial order wins, we continue to consolidate our presence in the domestic market. We continue to strengthen our footprint in the solar EPC space with new order wins.Vimal Kejriwal, MD and CEO, KEC International
The order wins in the railways business will help the company position itself for significant growth going ahead, Kejriwal added.
KEC International stock rose as much as 4.1 percent to Rs 130 before cooling to Rs 127.6 as of 10:45 a.m.