KEC International extends recent gains on new orders

KEC International rose 1.72% to Rs 26.65 at 9:52 IST on BSE, with the stock extending recent gains triggered by the company securing new orders worth Rs 1004 crore in its transmission, cables, telecom and power systems cables businesses.

Meanwhile, the S&P BSE Sensex was up 34.75 points or 0.18% at 19,816.63.

On BSE, 8,910 shares were traded in the counter as against average daily volume of 64,262 shares in the past one quarter.

The stock hit a high of Rs 27.15 and a low of Rs 26 so far during the day. The stock had hit a 52-week high of Rs 80.70 on 29 October 2012. The stock had hit a 52-week low of Rs 23.25 on 4 September 2013.

The small-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.

The stock had outperformed the market over the past one month till 12 September 2013, gaining 6.07% compared with the Sensex's 4.41% rise. The scrip had, however, underperformed the market in past one quarter, declining 28.8% as against Sensex's 3.89% rise.

Shares of KEC International have risen 4.92% in three trading sessions from Rs 25.40 on 10 September 2013, after the company during trading hours on Wednesday, 11 September 2013 said it has secured new orders worth Rs 1004 crore in its transmission, cables, telecom and power systems cables businesses.

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).

KEC International reported a consolidated net loss of Rs 8.84 crore in Q1 June 2013, as against net profit of Rs 33.16 crore in Q1 June 2012. Net sales rose 28.5% to Rs 1718.44 crore in Q1 June 2013 over Q1 June 2012.

KEC International is a global infrastructure engineering, procurement and construction (EPC) company. It has presence in the verticals of power transmission, power systems, cables, railways, telecom and water. The company has powered infrastructure development in 50 countries across Africa, Americas, Central Asia, Middle East, South Asia and South East Asia. It is the flagship company of the RPG Group.

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