KEC International shares in focus today on fresh order win

Shares of KEC International are in news on Thursday after the firm won fresh orders worth Rs 1,100 crore. The orders relate to transmission & distribution (T&D) projects in India, the Middle East, Australia, and the Americas. These orders include 765 kV transmission line and 765 kV GIS substation orders in India from the Power Grid Corporation of India, and a 132 kV transmission line in the United Arab Emirates (UAE).

KEC International shares ended on a flat note on Tuesday at Rs 887.35 against the previous close of Rs 888.85 on BSE. Market cap of the firm climbed to Rs 22,812 crore.

The civil construction stock has gained 46% in 2024 and risen 47% in a year. A total of 0.11 lakh shares of the firm changed hands amounting to a turnover of Rs 1.01 crore.

KEC International shares have a beta of 0.9, indicating low volatility in a year.

In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 55.8, signaling it's trading neither in the overbought nor in the oversold zone.

The stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 200 day and 100 day moving averages. The stock fell to a 52 week low of Rs 551 on November 8, 2023. 

The orders also include supply of towers in Australia and Americas and supply of hardware and poles in Americas.

Vimal Kejriwal, MD & CEO, KEC International said, “We are delighted with the continuous inflow of orders, especially in our T&D business. The 765 kV orders from PGCIL have substantially bolstered our India T&D order book. The consecutive orders in UAE have further solidified our leadership in the Middle East T&D market. We are particularly enthused by the significant tower supply order from Australia, which strengthens our tower supply business by tapping into a sizeable new market. With the above orders, our YTD order intake has exceeded Rs 6,000 crores, a staggering growth of over 80% vis-à-vis last year."

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables. The company is currently executing infrastructure projects in 30 plus countries and has a footprint in 110 plus countries (includes EPC, supply of towers and cables). It is the flagship company of the RPG Group.