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Business News/ Markets / Stock Markets/  Why KEC International stock price skyrocketed 15% to all time high today? Explained
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Why KEC International stock price skyrocketed 15% to all time high today? Explained

Stock Market Today: KEC International share price gaining more than 15% scaled all time high of ₹838.85 on Thursday, during the intraday trades. The company announced large order wins that have taken its overall order inflows in FY24 to record highs, improving revenue visibility & earnings outlook

KEC International share price rises 15% to record highsPremium
KEC International share price rises 15% to record highs

Stock Market Today:  KEC International share price gaining more than 15%, scaled all time highs of 838.85 on the NSE on Thursday, during the intraday trades. The share price is up more than 20% in past 5 trading sessions. The same is being driven by strong order flows, improving the revenue visibility and also adding to the earnings outlook of KEC International.

KEC International, the Global infrastructure EPC (Engineering Procurement and Construction) major KEC International, a company of the RPG Group, on Wednesday post market hours announced a number of large order wins. 

KEC International has received new orders totaling Rs. 816 crores for its various businesses. 

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In the mining and Metals space, KEC International has won an order and will be setting up a Steel plant in Northern India.

KEC International has procured order in the Cement Sector too and will also be building a Cement plant in the Central India 

In addition, KEC International in the Eastern part of the country will be setting up and  establishing a plant for Carbon derivates.

KEC International not only has procured orders in the domestic arena but also the international order inflows remain strong.

In the Transmission & Distribution (T&D) space  KEC International  has secured orders for supply of towers in the United States of America.

As Transmission and Distribution segment is important for KEC International, it also has seen good order flows in the Cables segment. 

KEC International in its kitty also has added orders for supply of various types of cables in India as well as the overseas market.

KEC International has said that its currently is executing infrastructure projects in more than 30 countries. KEC International has a footprint in more than 110 countries and has presence in EPC, Supply of Towers and Cables segments.

With the recent order flow announcements , the overall order intake for FY24  has increased to Rs. 18,102 crores, as per Vimal Kejriwal, MD & CEO, KEC International Ltd . 

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Our confidence in reaching the intended growth trajectory in the future is reaffirmed by these orders as well as the ones that were announced earlier in the year, said Kejriwal.

Through several orders for the establishment of manufacturing facilities across India,  KEC International has made impressive achievements in growing its footprint in the industrial area, diversifying from Civil constructions.

The addition of a well-known client also has allowed the company to grow its clientele.

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd in a statement said that , “We are pleased with the new order wins, especially the prestigious orders in Civil business. 

 

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ABOUT THE AUTHOR
Ujjval Jauhari
Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi.
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Published: 04 Apr 2024, 11:46 AM IST
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