Multibagger stock in news today on Rs 1,171-crore order win

Shares of KEC International are in news on Thursday after the firm won fresh orders worth Rs 1,171 crore in its transmission and distribution (T&D) business. KEC International shares ended on a flat note on Wednesday at Rs 867.30 against the previous close of Rs 863.75 on BSE. Market cap of the firm climbed to Rs 22,297 crore.

The multibagger stock has gained 43.23% in 2024 and risen 111% in two years. A total of 7899 shares of the firm changed hands amounting to a turnover of Rs 68.14 crore.

KEC International shares have a beta of 1, indicating average volatility in a year.

In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 55.1, 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 relate to a 400 kV Transmission line in the United Arab Emirates (UAE)  and 380 kV Transmission line in Saudi Arabia. 

Vimal Kejriwal, MD & CEO, KEC International said, "We are delighted with the ongoing success in our T&D business, highlighted by a series of significant order wins. The sustained inflow of orders in the Middle East has substantially expanded our International T&D order book. With the above orders, our YTD order intake stands at ~Rs 10,000 crores, a stellar growth of 80% compared to last year. These orders, coupled with the orders announced earlier during the year, reaffirm our confidence in achieving the targeted growth going forward."

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.