KEC International shares jump 10% on Rs 1,171 crore order win

KEC International Ltd saw its shares surging 10 per cent in Thursday's trade after the infrastructure EPC company bagged new transmission & distribution (T&D) orders worth Rs 1,171 crore in the Middle East. In a filing to stock exchanges, KEC said one order is for 400 kV transmission line in the United Arab Emirates (UAE) and the second is on 380 kV transmission line in Saudi Arabia.

Following the development, KEC International shares climbed 9.93 per cent to hit a high of Rs 953.45 on BSE. The stock has gained 6 per cent in the past one month and 53 per cent in 2024 so far.

KEC's MD & CEO Vimal Kejriwal 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."

KEC International said it year-to-date order intake stands at Rs 10,000 crore, up 80 per cent compared with 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 said.