KEC International share price jumps 8% on new orders win. Details here

KEC International's share price jumped almost 8 per cent in intraday trade on Tuesday, September 23, in an otherwise weak market, a day after the company announced a new order win worth ₹3,243 crore.

KEC International's shares opened at ₹891 against their previous close of ₹866.15 and rose as much as 8 per cent to hit an intraday high of ₹935 on the NSE. Around 9:45 am, the stock traded 7.32 per cent higher at ₹929.55.

KEC International order win details

After market hours on Monday, September 22, KEC International, an infrastructure EPC (engineering, procurement, and construction) company, said it had secured new orders of ₹3,243 crore for transmission and distribution projects.

The order is for 400 kV transmission lines in the United Arab Emirates (UAE) and the supply of towers, hardware and poles in the Americas.

“We are delighted with the new order wins in our T&D business, especially our largest ever EPC order to date. This order has further strengthened our presence in the Middle East and substantially expanded our international T&D order book," said Vimal Kejriwal, MD and CEO, KEC International.

"The Middle East region continues to be a strategic growth driver for us, as reflected in this order and those secured earlier this year. With the above orders, our YTD (year-to-date) order intake stands at nearly ₹11,700 crore. These orders will play a key role in driving our targeted growth going forward,” said Kejriwal.

KEC International share price trend

The stock has been under pressure this year so far, falling over 22 per cent year-to-date. However, on a monthly scale, it is up over 14 per cent and looks set to snap its two-month losing run.

It hit a 52-week high of ₹1,313.25 on December 4 last year and a 52-week low of ₹627.45 on April 7 this year.

Meanwhile, brokerage firm Axis Securities has a buy call on the stock with a target price of ₹1,030.

"KEC has a well-diversified and robust order book and an L1 position, providing healthy revenue visibility for the next 18-24 months. Moreover, the favourable government emphasis on T&D and the extension of JJM till 2028 in the Union Budget bode well for the company moving forward," said the brokerage firm in a report on September 23.

"The stock is currently trading at 24.5 times and 17.3 times FY26E and FY27E EPS, respectively. We maintain our buy rating on the stock and value it at 20 times FY27E EPS with a target price of ₹1,030, implying an upside of 19 per cent from the current market price," the brokerage firm said.

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