Trending Today: KEC International surges upon securing orders worth Rs 1,233 crore

Trending Today: KEC International surges upon securing orders worth Rs 1,233 crore

Indian Market
by 5paisa Research Team Last Updated: Dec 13, 2022 - 10:18 am 20.4k Views

One of the orders entails the construction of India’s first 765 kV Digital substation.

The shares of KEC International Ltd, a global infrastructure EPC major, are surging on the bourses today. This surge has been led by new orders secured by the company.

This morning, the S&P BSE 500 company reported that it has bagged new orders worth Rs 1,233 crore across its various businesses.

In the Transmission and Distribution (T&D) segment, the company has secured orders for T&D projects in India, the Middle East and Americas. The details of the orders in this segment are as follows-

  • 765 kV Digital GIS Substation order in India, from Power Grid Corporation of India Limited (PGCIL).

  • Supply of towers in Middle East, secured by the company’s subsidiary in UAE.

  • Supply of towers, hardware and poles in the Americas, secured by KEC International’s subsidiary SAE Towers.

The company’s civil business has bagged orders for infra works in the Paints and Metals & Mining segments in India.

The company’s oil and gas pipeline business has secured an order for the laying of a cross-country pipeline and associated works in India. Moreover, in the cables business, the company has secured orders for various types of cables in India and overseas.

KEC International has a presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables. At present, the company is executing infrastructure projects in more than 30 countries. It has a footprint in over 110 countries (including EPC, Supply of Towers and Cables).

Today, the scrip opened at Rs 473 and has touched a high and low of Rs 474.50 and Rs 464.70, respectively. So far 4627 shares have been traded on the bourses.

At 10.51 am, the shares of KEC International Ltd were being traded at Rs 469.25 apiece, an increase of 2.09% over the previous close. Their 52-week high and low stand at Rs 550 and Rs 345.15 on BSE.

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