KEC International surges 8% on Rs 3,243 crore order win; Axis Securities sees 10% upside
Axis Securities said that KEC has a well-diversified and robust order book and an L1 position, providing healthy revenue visibility for the next 18-24 months.
- Sep 23, 2025,
- Updated Sep 23, 2025 10:38 AM IST
Shares of KEC International Ltd surged 8 per cent in Tuesday’s trade after the company said its Transmission & Distribution (T&D) business had secured fresh orders worth Rs 3,243 crore.
On Tuesday, shares of KEC International climbed 7.9 per cent to hit a day’s high of Rs 937 on the BSE, up from the previous close of Rs 865.95. At 10:04 am, the stock was trading 7.63 per cent higher at Rs 932, valuing the company at Rs 24,809 crore. The scrip is now 54 per cent above its 52-week low of Rs 605.05.
In a stock exchange filing, the RPG Group company said the new orders include a 400 kV transmission line project in the United Arab Emirates (UAE) and supply of towers, hardware, and poles in the Americas
The company said that this is its largest-ever EPC order to date. Commenting on the development, Vimal Kejriwal, MD & CEO of KEC International Ltd, said, “This order has further strengthened our presence in the Middle East and substantially expanded our international T&D order book. The Middle East region continues to be a strategic growth driver for us, as reflected in this order and those secured earlier this year.”
With these wins, KEC’s year-to-date order intake has reached around Rs 11,700 crore. The company said the fresh inflows will play a “key role in driving targeted growth going forward.”
KEC International, the flagship company of RPG Enterprises, operates across verticals such as power transmission and distribution, civil, transportation, renewables, oil & gas pipelines, and cables & conductors. The company has a footprint in over 110 countries.
RPG Enterprises, founded in 1979, has a turnover of $5.2 billion and interests spanning infrastructure, tyres, pharma, IT, and specialty businesses, KEC said.
Axis Securities said that KEC has a well-diversified and robust order book and an L1 position, providing healthy revenue visibility for the next 18-24 months. Moreover, the favourable government emphasis on T&D and the extension of JJM till 2028 in the Union Budget bode well for the company moving forward. The stock is currently trading at 24.5x/17.3x FY26E/27E EPS. We maintain our ‘Buy’ rating on the stock and value it at 20x FY27E EPS with a target price of Rs 1,030 per share, implying an upside of 10 per cent from the CMP of Rs 932.
Shares of KEC International Ltd surged 8 per cent in Tuesday’s trade after the company said its Transmission & Distribution (T&D) business had secured fresh orders worth Rs 3,243 crore.
On Tuesday, shares of KEC International climbed 7.9 per cent to hit a day’s high of Rs 937 on the BSE, up from the previous close of Rs 865.95. At 10:04 am, the stock was trading 7.63 per cent higher at Rs 932, valuing the company at Rs 24,809 crore. The scrip is now 54 per cent above its 52-week low of Rs 605.05.
In a stock exchange filing, the RPG Group company said the new orders include a 400 kV transmission line project in the United Arab Emirates (UAE) and supply of towers, hardware, and poles in the Americas
The company said that this is its largest-ever EPC order to date. Commenting on the development, Vimal Kejriwal, MD & CEO of KEC International Ltd, said, “This order has further strengthened our presence in the Middle East and substantially expanded our international T&D order book. The Middle East region continues to be a strategic growth driver for us, as reflected in this order and those secured earlier this year.”
With these wins, KEC’s year-to-date order intake has reached around Rs 11,700 crore. The company said the fresh inflows will play a “key role in driving targeted growth going forward.”
KEC International, the flagship company of RPG Enterprises, operates across verticals such as power transmission and distribution, civil, transportation, renewables, oil & gas pipelines, and cables & conductors. The company has a footprint in over 110 countries.
RPG Enterprises, founded in 1979, has a turnover of $5.2 billion and interests spanning infrastructure, tyres, pharma, IT, and specialty businesses, KEC said.
Axis Securities said that KEC has a well-diversified and robust order book and an L1 position, providing healthy revenue visibility for the next 18-24 months. Moreover, the favourable government emphasis on T&D and the extension of JJM till 2028 in the Union Budget bode well for the company moving forward. The stock is currently trading at 24.5x/17.3x FY26E/27E EPS. We maintain our ‘Buy’ rating on the stock and value it at 20x FY27E EPS with a target price of Rs 1,030 per share, implying an upside of 10 per cent from the CMP of Rs 932.