KEC International shares crash 7% after Power Grid bars fresh bids; stock down for 3rd day
Despite the setback, the stock remains 29.17 per cent above its 52-week low of Rs 605.05 but is still 40.56 per cent below its 52-week high of Rs 1,312.
- Nov 19, 2025,
- Updated Nov 19, 2025 10:15 AM IST
KEC International Ltd shares tumbled on Wednesday, November 19, after a regulatory filing said that the company had been barred from bidding for new business with its key client, Power Grid Corporation of India Ltd (PGCIL). The stock slipped as much as 7.2 per cent to an intraday low of Rs 724.60 on the BSE, compared with the previous close of Rs 781.15.
The decline followed a letter dated November 18 from PGCIL after market hours, informing that it would be excluded from participating in tenders and contract awards for nine months, effective immediately. The suspension was imposed for an alleged transgression of contractual provisions linked to an earlier matter disclosed to exchanges on March 24.
Despite the setback, the stock remains 29.17 per cent above its 52-week low of Rs 605.05 but is still 40.56 per cent below its 52-week high of Rs 1,312. The scrip has been under pressure for three straight sessions and has shed nearly 14 per cent over the past month.
KEC International said the restriction does not impact any of the existing PGCIL projects under execution and added that it does not foresee any material impact on its operations or financial position, citing a strong order book and healthy tender pipeline. The RPG Group company said it is evaluating various options, including legal recourse or approaching PGCIL for reconsideration.
Earlier, in a separate stock exchange filing dated November 17, the company had highlighted fresh business momentum, announcing new orders worth Rs 1,016 crore across its Civil, Oil & Gas Pipelines, Transmission & Distribution, and Cables segments, including a maiden oil and gas contract in the Middle East and a luxury villa development in western India.
KEC International Ltd shares tumbled on Wednesday, November 19, after a regulatory filing said that the company had been barred from bidding for new business with its key client, Power Grid Corporation of India Ltd (PGCIL). The stock slipped as much as 7.2 per cent to an intraday low of Rs 724.60 on the BSE, compared with the previous close of Rs 781.15.
The decline followed a letter dated November 18 from PGCIL after market hours, informing that it would be excluded from participating in tenders and contract awards for nine months, effective immediately. The suspension was imposed for an alleged transgression of contractual provisions linked to an earlier matter disclosed to exchanges on March 24.
Despite the setback, the stock remains 29.17 per cent above its 52-week low of Rs 605.05 but is still 40.56 per cent below its 52-week high of Rs 1,312. The scrip has been under pressure for three straight sessions and has shed nearly 14 per cent over the past month.
KEC International said the restriction does not impact any of the existing PGCIL projects under execution and added that it does not foresee any material impact on its operations or financial position, citing a strong order book and healthy tender pipeline. The RPG Group company said it is evaluating various options, including legal recourse or approaching PGCIL for reconsideration.
Earlier, in a separate stock exchange filing dated November 17, the company had highlighted fresh business momentum, announcing new orders worth Rs 1,016 crore across its Civil, Oil & Gas Pipelines, Transmission & Distribution, and Cables segments, including a maiden oil and gas contract in the Middle East and a luxury villa development in western India.