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KEC International share price rises over 4% on receiving orders worth Rs 1,806 crore

KEC International stock rose up to 4.57% to Rs 284 compared to the previous close of Rs 271.60 on BSE

twitter-logo BusinessToday.In        Last Updated: November 4, 2019  | 14:23 IST
KEC International share price rises over 4% on receiving orders worth Rs 1,806 crore
KEC International stock has gained 2.01% in last two days

KEC International share price surged over 4% today after the firm said it has secured orders worth Rs 1,806 crore across its various businesses. KEC International stock rose up to 4.57% to Rs 284 compared to the previous close of Rs 271.60 on BSE. KEC International stock has gained 2.01% in last two days. The stock opened 2.72% higher at Rs 279 on BSE. However, the mid cap stock has lost 9.88% during last one year and fallen 8.63% since the beginning of this year.

The RPG Group firm said it secured new orders of Rs 1,806 crore across its various businesses.

Railway Business

The firm secured orders of Rs 1,303 crore in India for overhead electrification of railway lines and associated civil works. The firm would also undertake construction of road over bridges (ROBs), roadbeds, major and minor bridges.

Transmission & Distribution Business

The firm secured orders worth Rs 283 crore for T&D projects in India, East Asia Pacific and the Americas.

Also read : YES Bank share opens 10% lower on Q2 loss, attempts recovery amid $3 bn infusion reports

Civil Business

It secured orders of Rs 63 crore for civil and construction works in India.

Cables Business

The cables business has secured orders of Rs 157 crore for various types of cables/ cabling projects.

Vimal Kejriwal, MD & CEO at KEC International said, "We are delighted with the new orders secured across our business verticals, especially in railways, which continues to expand its portfolio. The railway business continues to remain on a high growth trajectory. These large order wins further consolidate our leadership position in this sector."

Also read: Relaxo Footwears share price rises over 15%, hits all-time high on strong September quarter earnings

KEC International is engaged in manufacturing ofelectric power transmission towers. Its power transmission and distribution business includes providing end-to-end solutions in power transmission and distribution.

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