03 Jul , 2024 By : Debdeep Gupta
KEC International's share price jumped to a 52-week high at 968.20 in the early trade on July 3 after the company bagged orders worth Rs 1,017 crore.
At 09:50 am, KEC International was quoting at Rs 955.10, up Rs 52.40, or 5.80 percent, on the BSE.
The Transmission & Distribution (T&D) business has secured orders for the EPC project and supply of towers in the Middle East.
The renewables business has secured an order for a balance of system package of a 625 MWp solar PV project in Rajasthan from a subsidiary of a reputed PSU in the renewable power generation segment.
“We are delighted with the continuous inflow of orders in the first quarter of the financial year. The prestigious Solar order has reaffirmed our confidence that the Renewable EPC business will contribute significantly to our future growth," said Vimal Kejriwal, MD & CEO, KEC International.
"The T&D orders in the Middle East have further strengthened our order book in the international T&D market. With these orders, our YTD order intake has surpassed Rs 5,000 crores, a remarkable growth of 50% vis-à-vis last year,” he added.
On June 26, the Transmission & Distribution (T&D) business has secured several significant projects across India, Africa, and the Americas. These include a 765 kV GIS Substation project in India awarded by Power Grid Corporation of India Limited (PGCIL), a comprehensive 225 kV Composite project involving Transmission lines, Substations, and Underground cabling in West Africa, and contracts for supplying towers, hardware, and poles in the Americas.
Additionally, the cable business has also received orders for various types of cables, catering to both domestic and international markets.
On June 7, the company secured new orders of Rs 1,061 crores across its various businesses. On June 5, the company secured orders of Rs 1,002 crores in its civil business.
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