KEC International gains on new order

KEC International is trading higher by 3.6% at Rs 27.05 in an otherwise weak market, extending its yesterday's gain of 4% after the company said it has secured new order for its transmission cables, telecom and power systems cable business.

The company has secured order worth Rs 1,004 crore.

KEC International said its transmission business secured orders in India, Americas and Kuwait amounting to Rs 760 crore.

The company's cables business secured orders for the supply of power and telecom cables. The total value of orders is Rs 98 crore.

In telecom business, KEC International secured an order worth Rs 90 crore from the Maharashtra Transmission Communication Infrastructure (MTCIL), for supply and installation of OPGW cable and associated hardware on turnkey basis in Maharashtra.

The company's power systems business secured an order worth Rs 56 crore from the National Grid Corporation of the Philippines (NGCP).

The stock opened at Rs 26 and touched the high of Rs 27.50 in intra-day deals so far. As many as 77,000 shares have changed hands on the BSE compared to its two week average of 58,000 shares.