KEC International shares rise over 7% after Delhi HC puts Power Grid’s bidding ban in abeyance

KEC International share price: Shares of EPC major KEC International rose over 7% on Monday, December 22, after the Delhi High Court put Power Grid Corporation of India Ltd's bidding ban in abeyance.

The stock rose as much as 7.56% to touch an intraday high of ₹764.8 apiece on the National Stock Exchange (NSE). At 1:08 pm, it was up 4.74% to ₹744.70.

In an order dated on November 18, Power Grid had excluded KEC International from participating in the tenders for a period of nine months. In response, the company had filed a writ petition before the Delhi High Court.

In an exchange filing on December 20, KEC International said, "After hearing the petition, the Hon’ble High Court vide its order dated December 17, 2025, received by the Company on December 19, 2025, has kept the said PGCIL order in abeyance, pending passing of a fresh/supplementary order, expressly dealing with all contentions raised by the Company in its reply to Show Cause Notice of PGCIL."

The HC has permitted the engineering, procurement and construction company to take part in the ongoing bids, including that of Power Grid.

"The Hon’ble High Court has further allowed the Company to continue to participate in ongoing bids including that of PGCIL, till the aforesaid action is completed by PGCIL. The company upholds the highest standards of corporate governance, ethics, and compliance in all its operations and conducts its business with integrity, transparency, and adherence to applicable laws and regulations," it added.

In a press release on November 19, KEC International had said the communication from Power Grid has no bearing on the execution of existing Power Grid projects.

It also stated that the share of Power Grid in this year’s order intake is 4% against their share of 27% in the previous year’s order intake.

"Based on the robust tender pipeline of over ₹180,000 crores and the healthy L1 position of over ₹4,000 crores, the Company is confident of achieving its annual order intake target. The company does not foresee any material impact on its ongoing operations or financial position," it had said.