KEC International share price gained nearly 6% today after the engineering and construction company won new orders of Rs 3,023 crore across its various businesses. The share opened with a gain of 5.85% at Rs 503 against the previous close of Rs 475.20 on BSE. Share price of KEC International has gained after two days of consecutive fall. The stock touched an intraday high of Rs 503, gaining 5.85% on BSE. The mid cap share is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. However, in one year, the stock has gained 6.13% and declined 0.54% since the beginning of this year.
Total 0.29 lakh shares of the firm changed hands amounting to a turnover of Rs 1.44 crore on BSE. Market cap of the firm rose to Rs 12,648 crore.
The business has secured orders for executing infra works in the Water Pipeline and Commercial building segments in India. The company has also secured orders for T&D projects in Americas and for various types of cables in India and overseas.
Vimal Kejriwal, MD & CEO, KEC International said, “We are pleased with the size of new order wins, especially the orders in the water pipeline segment including our single largest order till date. We are now executing ten prestigious projects in this segment with an overall project value of over Rs 5,000 crore, under the ‘Jal Jeevan Mission’ of the Government. The civil business has also diversified its presence with a maiden order in the commercial building segment, from a reputed international real estate developer. With the above orders, our YTD order intake stands at a record level of over Rs. 18,500 crores, a robust growth of over 30% vis-a-vis last year. These orders will significantly contribute towards our targeted growth going forward.”
KEC International Limited is the flagship company of the RPG Group. Headquartered in Mumbai, the firm is engaged in the businesses of engineering, procurement, and construction (EPC). The company operates in key sectors such as power transmission & distribution, railways, civil, solar, smart infra, and cables.
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