Power Grid removes KEC International from its exclusion list; here's how shares are faring on Monday

KEC International shares rose 4% to an intraday high of ₹549 apiece on Monday, June 29, after the EPC firm got relief as Power Grid Corporation revoked its exclusion order for the company. However, it slipped later from its day’s high to trade in red.

On November 18, 2025, Power Grid (PGCIL) had barred KEC International from participating in its tenders and securing new awards for a nine-month period, following an alleged bribery incident involving a PGCIL official and a KEC employee that surfaced in March 2025.

“After considering the representations made and various actions taken by the company, the PGCIL has vide its letter dated June 26, 2026, revoked the aforesaid exclusion order with effect from 26th June, 2026,” KEC International said in a regulatory filing.

Consequently, KEC International is now permitted, with immediate effect, to participate as a bidder or subcontractor in PGCIL tenders and contracts.

KEC International said that the company continues to uphold high standards of corporate governance, ethics, and compliance, conducting its operations with integrity and transparency and in adherence to applicable laws and regulations.

In a separate filing, Power Grid said that its transmission scheme for the Solar Energy Zones in Ananthapur (2,500 MW) and Kurnool (1,000 MW), Andhra Pradesh, has been fully commissioned with effect from June 24, 2026. The company added that it received the Notification for Commercial Operation (DOCO), dated June 25, 2026, via email on June 26, 2026.

Last week, the state-owned company had said its board had approved the proposal to raise its borrowing limit to ₹2.2 lakh crore from ₹1.8 lakh crore. The board, in its meeting held on Friday, also approved the proposal of raising foreign currency funds through external commercial borrowings (ECB) up to $500 million from Bank of Baroda, a regulatory filing stated.

According to the regulatory filing, the board approved a proposal for the enhancement of borrowing limits from ₹1,80,000 crore to ₹2,20,000 crore, subject to the approval of the shareholders at the ensuing annual general meeting (AGM).

Share price trends

After opening at ₹540.50 apiece on Monday, KEC International shares rose during the intraday period but gave up gains to slip 2% to day’s low of ₹519.05 apiece.

At 12:26 PM, the stock was seen at ₹518.05 per share on the National Stock Exchange, falling 1.91%. At the same time, Power Grid shares were trading at ₹287.15 apiece on NSE, rising 1.14%.

According to NSE data, KEC International has a market capitalisation of ₹13,769.19 crore, while Power Grid has a mcap of ₹2.67 lakh crore.