KEC International shares hit 52-week high as company wins orders worth Rs 1,042 crore

Shares of KEC International Ltd, the engineering, procurement, and construction (EPC) major, rose nearly 4.97 per cent to scale a fresh 52-week high of Rs 604.35 on the BSE on Thursday, July 6, 2023. The stock jumped after the company received new orders worth Rs 1,042 crore across its various businesses.

At the time of writing this report, the stock quoted Rs 597.55 apiece, up by Rs 22.05, or 3.86 per cent, on the BSE.

KEC receives orders worth Rs 1,042 crore

In an exchange filing, KEC International said it has secured its maiden international order for a Signalling & Telecommunication project (railway business) in SAARC and an order in the Metals & Mining segment (civil business) from a reputed steel player in India.

Apart from these two, KEC International has also secured orders for T&D projects in India, the Middle East, Europe, and the Americas. These include the setting up of overhead transmission lines in the Middle East, the supply of towers in India, Europe, and the USA, and the supply of towers, hardware, and poles in the Americas, secured by our subsidiary, SAE Towers.

For the cables segment, the company has won orders for the supply of various types of cables in India and overseas.

Commenting on the development, Vimal Kejriwal, MD & CEO, KEC International, said, "The Railway business has successfully expanded its footprint internationally, leveraging the strong presence of our T&D business. The civil business continues to strengthen its order book in the industrial segment with the addition of a very reputed client. The maiden tower supply order from Europe is a testament to our dedicated focus on diversifying the tower sales business geographically."

KEC International's share price history

KEC International's stock has given a positive return of nearly 42.69 per cent in the last 12 months. On a year-to-date (YTD) basis, the stock has provided a return of over 23 per cent and around 12 per cent in the last one month.