KEC International share price gains more than 9% on a large order win worth ₹1,079 crore

Stock Market today: KEC International Ltd share price gained more than 9% in the morning trades in Monday as it announced a large order win worth ₹1,079 crore in the Transmission & Distribution (T&D) and Cables businesses

KEC International share price opened at ₹889.65 almost 6% higher on the BSE on Monday. The KEC International share price thereafter rose to ₹916.95 marking gains of more than 9%.

Order flow details

An RPG Group Company, KEC International Ltd. which happens to be a global infrastructure EPC major had announced that its Transmission & Distribution (T&D) business has secured orders for T&D projects in India, Middle East and Americas.

In India it has procured 765 kV/ 400 kV Transmission lines order from a reputed private developer.

In Saudi Arabia and Oman it has secured 230/132 kV Transmission line orders

in the United Arab Emirates (UAE), KEC International has secured orders for the upgradation of an existing 400 kV Transmission Line

while in America KEC International will be Supplying towers, hardware and poles

In the cables segment KEC International has secured orders for supply of various types of cables in India and overseas

The significant orders across Saudi Arabia, Oman and the UAE have substantially expanded KEC's International T&D order book in the Middle East highlighted Vimal Kejriwal, MD & CEO, KEC International . With these orders, KEC's order intake has surpassed ₹8,700 crores, reflecting an impressive growth of ~60% compared to last year.

“We are pleased with the continuous inflow of orders, particularly in our T&D business. The prestigious order in India T&D from a private developer has enhanced our presence in the India T&D market and further diversified our clientele" said Kejriwal, in a statement.

Analyst Views

KEC International has seen a decent Q1 with a strong order book. Analysts at Prabhudas Lilladher said that "they remain positive on KEC for the long term given its strong order book, healthy execution momentum, robust T&D outlook, especially in renewable energy, and growing Cables business.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions