KEC International, Coforge shares jump up to 5% - What's behind the surge

Shares of KEC International and Coforge were in focus on Tuesday, 15 September, with the stocks gaining in early trade amid company-specific developments. KEC International share price rallied over 5% after securing fresh orders worth ₹1,303 crore, while Coforge share price rose 2.4% following changes to its board committees after the resignation of an independent director.

KEC International bags ₹1,303 crore orders

KEC International, a global infrastructure engineering, procurement and construction (EPC) major and an RPG Group company, has secured new orders worth ₹1,303 crore across its various businesses.

The company’s Transmission & Distribution (T&D) business won orders for projects in India, the Middle East and the Americas. These include a 400 kV transmission line project in northern India, 380 kV transmission line projects in Saudi Arabia, and the supply of towers, hardware and poles in the Americas.

Its Cables & Conductors business also secured multiple orders in India and overseas markets.

Vimal Kejriwal, MD & CEO of KEC International, said the new order wins came despite a challenging environment. He highlighted the company’s strong pipeline and demand across key markets, particularly for its T&D business.

With these latest wins, KEC International’s year-to-date order intake has crossed ₹7,600 crore, the company said.

Coforge board reshuffle after director's resignation

Coforge said its Board has taken note of the resignation of DK Singh, Non-Executive Independent Director and Chairperson of the Nomination and Remuneration Committee (NRC), with immediate effect.

Following his resignation, Singh has also ceased to be a member of the company’s committees. Coforge said there was no material reason for his resignation other than the reason stated in his resignation email dated 10 September 2026.

NRC reconstituted

The company said Vivek Sharma will serve as interim Chair until 31 January 2027, and will lead the global search for additional independent directors. He will also oversee the process of selecting a new Chairperson.

Coforge has also reconstituted its NRC and Stakeholders’ Relationship Committee (SRC). Beth Boucher, Non-Executive Independent Director, has been designated as the new Chairperson of the NRC.

Technical Views

KEC International's share price today opened at an intraday high of ₹428.90 per share on the BSE and touched an intraday low of ₹405.70 per share.

Rajesh Bhosale, Technical Analyst at My Advisor Alpha, said the stock opened gap-up, but follow-up buying was not visible. He noted that the ₹400 level, around last week’s low, remains a key support. According to Bhosale, the stock is struggling to cross its 50-day EMA, and a sustained move above ₹450 would be crucial for the stock to regain positive momentum.

Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said KEC International has been forming a lower-low and lower-high structure on both its weekly and daily charts, indicating a sustained bearish trend. The stock is trading below key short- and long-term moving averages, while the rising ADX on both timeframes points to strengthening bearish momentum. The 50-day EMA in the ₹445–450 zone is likely to act as immediate resistance, with the bearish bias expected to persist as long as the stock remains below this level.

Shah noted that the stock has corrected around 11.5% from its 31 August high of ₹2,021 and has slipped below its 20-day EMA, signalling near-term weakness. The RSI has also declined from 77 to 43, highlighting a significant loss of bullish momentum. The stock is currently trading near the 38.2% Fibonacci retracement support zone of ₹1,780–1,800, based on its previous upmove from ₹1,468 to ₹2,021. A decisive break below ₹1,780 could trigger further weakness, while the ₹1,870–1,880 zone is likely to act as immediate resistance.

Coforge share price today opened at ₹1,884 apiece on the BSE, the stock touched an intraday high of ₹1,892.65 per share, and an intraday low of ₹1,784 apiece.

Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said the stock has corrected around 11.5% from its 31 August high of ₹2,021 and has slipped below its 20-day EMA, signalling near-term weakness. He noted that the RSI has declined from 77 to 43, indicating a significant waning in bullish momentum.

According to Shah, the stock is currently trading near the 38.2% Fibonacci retracement support zone of ₹1,780–1,800, based on its previous upmove from ₹1,468 to ₹2,021. A decisive break below ₹1,780 could trigger fresh weakness, while the ₹1,870–1,880 zone is likely to act as immediate resistance.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.