28 Nov , 2024 By : Debdeep Gupta
KEC International's share price touched a 52-week high of Rs 1,094.95 in the opening trade on November 28 after the company secured turnkey orders of Rs 1,704 crore in its Transmission & Distribution (T&D) business for design, supply, and installation of 765 kV Transmission Lines and GIS Substations from Power Grid Corporation of India Limited (PGCIL).
At 09:20 am, KEC International was quoting at Rs 1,084.10, up Rs 60.65, or 5.93 percent, on the BSE.
“We are delighted with the continuous inflow of orders, especially in our T&D business. These 765 kV orders from PGCIL have further strengthened our India T&D order book, reaffirming our confidence in the continued strong growth of this business. With these orders, our YTD order intake now stands at Rs. 16,300 crores, reflecting an impressive growth of over 60% compared to last year," said Vimal Kejriwal, MD & CEO, of KEC International.
On November 25, the company secured new orders of Rs 1,114 crore across its various businesses. Its Transmission & Distribution (T&D) business secured orders for T&D projects in the Middle East and the Americas including a 400 kV Transmission line in Oman and a supply of towers, hardware, and poles in the Americas.
The Civil business has secured orders in the industrial segment in India and the railway business secured an order for Metro Overhead Electrification (OHE) works in the technologically enabled segment in India.
The Cables business has secured orders for the supply of various types of cables in India and overseas.
The company reported a 53 percent jump in its quarterly net profit at Rs 85.41 crore in September 2024.
The share price rose 90 percent in the last year.
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