KEC International shares surge 7% on securing orders worth ₹1,171 crore

Shares of KEC International Ltd surged 7% to hit an intraday high of ₹929 apiece on the NSE on Thursday, August 29. The stock surged after the company announced that it has bagged orders worth ₹1,171 crore.

KEC International informed the exchanges in a filing on August 28 that it has secured new orders in its Transmission and Distribution (T&D) business. The company has bagged an order for constructing a 400 kV transmission line in the United Arab Emirates (UAE) and a 380 kV Transmission line in Saudi Arabia.

Last week, on August 23, KEC International secured new orders worth ₹1,079 crore for its Transmission & Distribution (T&D) and its cables businesses. The company secured an order for the construction of 765 kV/ 400 kV transmission lines for a private developer in India. The company also secured an order for the construction of a 230/132 kV transmission line in Saudi Arabia and Oman.

Additionally, the company has also bagged orders for the upgradation of an existing 400 kV Transmission Line in the United Arab Emirates (UAE) and for supplying towers, hardware and poles in the Americas. The company also bagged an order in its cable business to supply various types of cables in India and overseas.

KEC International is a part of the RPG Group. The company is engaged in Engineering, Procurement and Construction (EPC) business and has a presence in the verticals of power transmission and distribution, civil engineering and railways.

KEC International shares have gained nearly 32% in the last one year and 51% so far in 2024. In the last six months the stock has rallied nearly 26%. However, in the past one month the stock has only gained 2%.

KEC International shares were trading at ₹ 922.70 apiece, up 6.22% on the NSE at 9:30 am.