KEC International share price gained today after the engineering and construction company bagged new orders worth Rs 1,192 crore across various businesses. The share opened with a gain of 4.28% at Rs 279 against previous close of Rs 267 on BSE.
Share price of KEC International has gained after 4 days of consecutive fall. The stock touched an intraday high of Rs 279.8, gaining 4.58% on BSE. Later the stock closed 1.78% higher at Rs 272 on BSE. The mid cap share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.
However, in one year, the stock has fallen 9.31% and declined 9.64% since the beginning of this year. The firm's T&D business and SAE Towers have secured orders of Rs 821 crore for T&D projects in India, SAARC, Malaysia, Africa and the Americas.
The Urban Infra business has secured an order of Rs 146 crore from Kochi Metro Rail Limited (KMRL) for the construction of viaduct along with station for the Phase 1 extension of Kochi metro rail project in India.
Civil business has secured an order of Rs 57 crore for infra works in the warehouse space in India and cables business has secured orders of Rs 168 crore for various types of cables/ cabling projects in India.
Meanwhile, the company has announced that a meeting of the board of directors of the company is scheduled to be held on August 10, 2020, to consider and approve the unaudited standalone and consolidated financial results of the company for the quarter ended June 30, 2020.
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.