KEC International jumps over 5% on securing multiple orders

The company has bagged multiple orders worth Rs 1,092 crore across its businesses in India and overseas.

KEC International soared to a high of Rs 381.65 in intra-day trades on the BSE, up 5.5 per cent from its previous close on strong volume after the company reported multiple order wins to the exchanges.

As of 10:20 AM, the stock had pared some gains, but was still up 2.9 per cent at Rs 372.30 with trades of around 85,000 shares on the BSE as against its two-week average traded quantity of 7,500-odd shares. Meanwhile, the S&P BSE Sensex too witnssed a pull-back rally and was up 1.2 per cent at 52,226.

KEC International has tumbled over 32 per cent so far this calendar year from its high of Rs 549.50 touched in early February. Whereas, the BSE Sensex has declined around 15 per cent from its peak during the same period.

According to a release issued by the KEC to the BSE, the company, a global infrastructure EPC major, secured new orders worth Rs 1,092 crore across its various businesses.

The company has reportedly bagged orders for its transmission & distribution projects in India, Middle East and America. It has also secured an order for 2 * 25 kV overhead electrification related railways work in India. Further for various works for its civil and cables divisions.

Vimal Kejriwal, MD & CEO, KEC International commented, “We are pleased with the new order wins secured across our business verticals. The orders in T&D have enhanced our order book in both domestic and international markets. Our Railway business has further consolidated its presence in emerging/ new areas, with the order in the Semi High-Speed Rail under Mission 'Raftaar'. The Civil business continues to be on a high growth trajectory, with consistent order inflows across segments, especially metals & mining and realty."

For the quarter ended March 2022, KEC had reported a sharp 69.9 per cent drop in Q4 net profit at Rs 4.60 crore when compared with Rs 15.29 crore reported in the quarter a year ago. Total income, however, was up 28.8 per cent YoY at Rs 387.78 crore from Rs 301 crore during the same period.