KEC International extends rally, gains over 3.5% in two days on securing ₹1304 crore order win

Shares of KEC International rose for the second straight trading session. The stock is up over 2%, with a day high of ₹643.7 per share.

This two-day rally comes after the company secured new orders worth ₹1,304 crores across its various businesses on 29 January.

The company’s transmission & distribution (T&D) business bags new projects in India, SAARC and the Americas, including a 765-kilovolt transmission line and 765-kilovolt GIS substation, from Power Grid Corporation of India.

Meanwhile, its civil construction business won orders for residential buildings in India, while the cable business secured orders to supply various types of cables in India and overseas.

With these orders, KEC International year-to-date order intake stands at approx ₹13,000 crores.

The company’s management said, we are delighted with the new order wins, particularly the prestigious orders from PGCIL, which have significantly bolstered our India T&D order book. We remain optimistic about India's T&D business on the back of the government of India's continued thrust for setting up renewable energy projects.

Meanwhile, so far this month, the company’s shares are up 8.2%