KEC International gains after securing new orders

KEC International rose 2.58% to Rs 128.50 at 9:45 IST on BSE after the company announced that it has secured new orders worth Rs 1192 crore.

The announcement was made on Wednesday, 12 October 2016. The stock market was shut on Wednesday, 12 October 2016.

Meanwhile, the S&P BSE Sensex was down 227.46 points or 0.81% at 27,854.88.

On BSE, so far 66,355 shares were traded in the counter as against average daily volume of 75,835 shares in the past one quarter. The stock hit a high of Rs 130.15 and a low of Rs 127 so far during the day. The stock had hit a 52-week high of Rs 164.75 on 24 November 2015. The stock had hit a 52-week low of Rs 97.45 on 12 February 2016. The stock had underperformed the market over the past one month till 10 October 2016, falling 4.1% compared with Sensex's 2.48% fall. The scrip had also underperformed the market in past one quarter, declining 13.42% as against Sensex's 3.52% rise.

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

KEC International said that its transmission & distribution business secured orders of Rs 859 crore in India, Africa and the Americas. Its cable business secured supply orders of Rs 105 crore. The company's railways business secured an overhead electrification order of Rs 120 crore for sections in the North Western Region. The company's solar business secured orders of Rs 108 crore for providing turnkey engineering, procurement and construction (EPC) solutions for solar power projects with single axis tracker.

KEC International's consolidated net profit rose 83.2% to Rs 30.94 crore on 7% fall in net sales to Rs 1727.01 crore in Q1 June 2016 over Q1 June 2015.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, water and renewables. It is a RPG group company.

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