KEC International shares rise 8% in early trade; here’s why
KEC International shares gained 8.02% to Rs 674 against the previous close of Rs 623.95 on BSE. Total 0.50 lakh shares of the firm changed hands amounting to a turnover of Rs 3.29 crore on BSE today.
- Aug 21, 2023,
- Updated Aug 21, 2023 12:37 PM IST
Shares of RPG Group firm KEC International rose 8% today after the firm said it received new orders worth Rs 1,007 crore across its various businesses. The stock gained 8.02% to Rs 674 against the previous close of Rs 623.95 on BSE. Total 0.50 lakh shares of the firm changed hands amounting to a turnover of Rs 3.29 crore on BSE today. Market cap of KEC International rose to Rs 16,827 crore.
In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 50.8, signaling it's trading neither in the overbought nor in the oversold zone. KEC International shares have a beta of 0.7, indicating low volatility in a year. The stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock hit a 52 week high of Rs 698.95 on August 2, 2023 and fell to a 52 week low of Rs 391.10 on August 23, 2022.
In one year, the stock has gained 60.41% and risen 34.71% since the beginning of this year. The stock closed 2.26% lower at Rs 623.95 on BSE on August 18 (Friday).
The company’s civil business vertical won an order for design, engineering, procurement and construction of a multi-specialty hospital in eastern India. The company’s transmission and distribution business has received an order for a 380 kV overhead transmission line project in the Middle East. The cables business bagged orders for supply of various types of cables in India and overseas.
“We are pleased with the continuous inflow of orders, especially in our T&D and Civil businesses. In line with our strategy, the civil business has expanded its presence by securing a breakthrough order for building a multispecialty hospital in Eastern India. The T&D order in the Middle East region has significantly enhanced our order book in the international T&D market," said Vimal Kejriwal, managing director and chief executive officer of KEC International, said.
“With these orders, our YTD (Year To Date) order intake stands at a record of over Rs 5,500 crore, registering a strong growth of 15% from last year," he added
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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Shares of RPG Group firm KEC International rose 8% today after the firm said it received new orders worth Rs 1,007 crore across its various businesses. The stock gained 8.02% to Rs 674 against the previous close of Rs 623.95 on BSE. Total 0.50 lakh shares of the firm changed hands amounting to a turnover of Rs 3.29 crore on BSE today. Market cap of KEC International rose to Rs 16,827 crore.
In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 50.8, signaling it's trading neither in the overbought nor in the oversold zone. KEC International shares have a beta of 0.7, indicating low volatility in a year. The stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock hit a 52 week high of Rs 698.95 on August 2, 2023 and fell to a 52 week low of Rs 391.10 on August 23, 2022.
In one year, the stock has gained 60.41% and risen 34.71% since the beginning of this year. The stock closed 2.26% lower at Rs 623.95 on BSE on August 18 (Friday).
The company’s civil business vertical won an order for design, engineering, procurement and construction of a multi-specialty hospital in eastern India. The company’s transmission and distribution business has received an order for a 380 kV overhead transmission line project in the Middle East. The cables business bagged orders for supply of various types of cables in India and overseas.
“We are pleased with the continuous inflow of orders, especially in our T&D and Civil businesses. In line with our strategy, the civil business has expanded its presence by securing a breakthrough order for building a multispecialty hospital in Eastern India. The T&D order in the Middle East region has significantly enhanced our order book in the international T&D market," said Vimal Kejriwal, managing director and chief executive officer of KEC International, said.
“With these orders, our YTD (Year To Date) order intake stands at a record of over Rs 5,500 crore, registering a strong growth of 15% from last year," he added
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.
Also read: Titan shares: Caratlane stake purchase EPS dilutive in near term. Stock price targets & more
Also read: JFS shares list at Rs 265 on BSE; m-cap stands at Rs 1.68 lakh crore