KEC International shares in focus today on fresh order win

Shares of KEC International Ltd, a prominent player in the global infrastructure EPC sector and a member of the RPG Group, are in focus today afetr the firm said it secured new transmission and distribution (T&D) project orders totaling Rs 1,133 crore in India. 

KEC International shares closed 0.36% lower at Rs 800.75 on Friday against the previous close of Rs 803.65 on BSE. Market cap of the firm stood at Rs 21,315 crore.

A total of 1.03 lakh shares of the firm changed hands amounting to a turnover of Rs 8.16 crore. 

KEC International shares have a beta of 1.3, indicating high volatility in a year.

In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 64.6, signaling it's trading neither in the overbought nor in the oversold zone.

Among the notable wins is a major contract with Power Grid Corporation of India Limited (PGCIL) for the construction of a ±800 kV HVDC transmission line and a 765 kV GIS substation. Additionally, the company has also received an order from a leading private developer for a 400 kV Quad transmission line.

Vimal Kejriwal, the Managing Director and CEO of KEC International, expressed enthusiasm about these developments, stating, “We are delighted with the multiple orders secured by our T&D business from PGCIL and a leading private developer. These prestigious orders have significantly bolstered our India T&D order book.”

He added, “We take particular pride in securing yet another HVDC (High Voltage Direct Current) order, building on the solid foundation established by last year’s successes. Our outlook for the sector remains strong and optimistic, supported by the nation’s escalating energy demands and the government’s unwavering commitment to expanding renewable energy and enhancing transmission infrastructure.”

The company emphasized that these new orders will play a crucial role in achieving its growth objectives while contributing to India’s ambitious agenda for building a robust and future-ready energy infrastructure.

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.