KEC International shares gain in early trade on Rs 1,005-crore order win

Shares of RPG Group firm KEC International Ltd rose over 4% in early deals today after the firm said it received new orders worth Rs 1,005 crore across its various businesses. KEC stock gained 4.61% to Rs 627 against the previous close of Rs 599.35 on BSE. Total 0.15 lakh shares of the firm changed hands amounting to a turnover of Rs 94.78 crore on BSE today. Market cap of KEC International rose to Rs 15,727 crore.      

In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 46.4, signaling it's trading neither in the overbought nor in the oversold zone. KEC International shares have a beta of 0.1, indicating low volatility in a year. The stock is trading higher than the 5 day, 10 day, 20 day, 200 day but lower than the 30 day, 50 day  and 100 day moving averages. The stock hit a 52 week high of Rs 739 on September 13, 2023 and fell to a 52 week low of Rs 411.75 on November 21, 2022.    

In a year, the stock has gained 47.41% and risen 26.29% since the beginning of this year. 

Details of the orders received are given below.  

Transmission & Distribution (T&D) 

The business has secured orders for T&D and cabling projects in India, Middle East, Europe, Africa and Americas: 

• 220 and 400 kV Overhead Transmission lines in Middle East 

• 110kV Transmission lines in Europe 

• Supply of Towers in Middle East, Africa and Americas 

• Supply of Hardware and Poles in Americas 

• 220kV cabling works in India from a Global Steel producer 

 

Railways 

The business has secured an order for 25 kV Overhead Electrification (OHE) & associated works in the conventional segment in India. 

Cables 

The business has secured orders for supply of various types of cables in India and overseas. 

 “We are delighted with the new order wins, especially our order in Cabling works from a leading Steel producer in India. The orders in the T&D business have expanded our order book in the Middle East outside Saudi. We are particularly enthused by the order in Railways, which further consolidates our order book in the conventional Railway segment. With these orders, our YTD order intake stands at Rs 10,000 crore,” said Vimal Kejriwal, managing director and chief executive officer of KEC International.  

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.    

 

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