KEC International gains 3% on winning new orders worth Rs 1,520 crore

Its urban transport business has secured an order of Rs 964 crore for the construction of an elevated viaduct along with eight stations of the Delhi Metro Phase IV project

Shares of global EPC major KEC International climbed 3 per cent to Rs 309 on the BSE on Monday after the company bagged orders worth Rs 1,520 crore across various business verticals.

The company's urban transport business has secured an order of Rs 964 crore for the construction of an elevated viaduct along with eight stations of the Delhi Metro Phase IV project from Delhi Metro Rail Corporation (DMRC), the company said in a BSE filing. READ THE FILING HERE

Its transmission and distribution vertical has bagged two orders of Rs 391 crore for construction of 400 kV Transmission lines in Nepal. In the railways business, it has secured an order of Rs 165 crore for construction of road over bridges (ROBs) in western India.

The company's MD and CEO Vimal Kejriwal said that the DMRC order would enable the company to strengthen its presence in the urban transport sector.

"With the international orders secured in T&D and the domestic orders announced earlier during the year, we are seeing traction in our core T&D business. The order wins in Nepal will consolidate our leadership position in the SAARC T&D market," said Vimal  Kejriwal, MD  &  CEO,  KEC  International.

KEC International is a global infrastructure, engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, railways, solar, civil, smart infrastructure and cables.

At 9:50 AM, the stock was trading 2.8 per cent higher at Rs 306.95 as compared to a flat benchmark S&P BSE Sensex. A total of 3.15 lakh shares have already changed hands on the NSE and BSE combined. In the last one year, the company has underperformed the benchmarks by rising a little over 3 per cent as compared to a 17.45 per cent gain in the S&P BSE Sensex in the same period.