KEC International shares in focus as firm secures Rs 1,476 crore orders; key details

KEC International Ltd shares are likely to be in focus on Thursday, March 12, after the infrastructure major announced securing new orders worth Rs 1,476 crore. 

According to a stock exchange filing made after market hours on March 11, the RPG group's company said it has secured these lucrative contracts for its transmission & distribution (T&D) business in India, the Middle East, Africa, and the Americas.

On Wednesday, shares of KEC jumped 1.97% to close at Rs 547.80 apiece on the BSE against its previous close of Rs 537.20. The counter gained in the second straight session.

The firm landed its largest-ever composite T&D order in Saudi Arabia. This major Middle Eastern project involves 380 kV transmission lines, substations, and EHV cabling, the company said.

Additionally, the firm scooped up contracts for 132 kV transmission lines in Africa, along with orders to supply towers, hardware, and poles across India and the Americas.

Vimal Kejriwal, MD & CEO of KEC International Ltd, said, "We are pleased with the new order wins in our T&D business across multiple geographies.”

Kejriwal highlighted that securing their largest composite order in Saudi Arabia, "despite the current geopolitical situation is a positive indicator of continuing investments in the Middle East T&D market". He further noted that the African contract signals "a gradual recovery" in the region's T&D sector, pushing the company's year-to-date order intake to an impressive Rs 22,800 crore.

Just a few weeks earlier, on February 24, a stock exchange filing said that KEC International secured Rs 1,002 crore in new orders. These earlier wins were spread across both its T&D and cables & conductors segments.