KEC International and GE Power India hit 52-week highs after winning orders worth hundreds of crores

KEC International and GE Power hit their respective 52-week highs after both companies win large orders from India and overseas markets.

While KEC International won an order worth Rs 816 crore of civil, cables and T&D business, GE Power got two orders worth Rs 775 crore from Jaiprakash Power Ventures.

Here's more details about their orders and how their shares are reacting to the developments.  

KEC International share price

The stock of KEC International was off to a flying start as it rose by over 15 per cent to hit a 52-week high of Rs 838.25 after closing at Rs 728.55 a day before.

The stock that opened at Rs 757.05 on Thursday was skyrocketing by 14.23 per cent, or Rs 103.70, at Rs 832.25 at 10:07 am. 

What is KEC Interanational's order?

KEC International, a global infrastructure EPC major and an RPG Group company, said on Wednesday that it has secured new orders of Rs 816 crores across its various businesses-

Civil

Its business has secured orders for infrastructure projects in India:
• Metals & mining: Setting up of a steel plant in Northern India
• Cement: Building a cement plant in Central India
• Carbon Black: Establishing a plant for carbon derivates in Eastern India

Transmission & Distribution (T&D)

The business has secured orders for supply of towers in the United States of America.

Cables

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

GE Power India Share Price

GE Power was also off to a bolstering start on Thursday as it soared by 11.75 per cent to hit a 52-week high of Rs 371.00 having closed at Rs 332.00 previously. 

The stock of the company was trading up by 3.96 per cent, or Rs 13.15, at Rs 345.15.

GE Power India's orders

GE Power India said on Wednesday that it had bagged two contracts from Jaiprakash Power Ventures Limited.

The first order is about D&E, supply , transportation, TFA for erection & commissioning and conducting PGT of FGD for Nigrie Super Thermal Power Plant at Nigrie.

The order is to be executed in 33 months and the worth of the contract is Rs 490.5 crore plus (GST 18 %). 

GE Power India's second order from the same company is for D&E, supply, transportation, TFA for erection & commissioning and conducting PGT of boiler FGD for Bina Thermal Power Plant at Bina. 

The duration to complete the project is 30 months while the base value of it is Rs 284.4 crores plus (GST 18 %).