KEC International gains after winning new orders

KEC International rose 2% to Rs 293 at 11:14 IST on BSE after the company said it secured new orders of Rs 1931 crore.

The announcement was made during trading hours today, 26 October 2017.

Meanwhile, the S&P BSE Sensex was down 58.94 points, or 0.18% to 32,983.56.

On the BSE, 61,000 shares were traded in the counter so far, compared with average daily volumes of 1.01 lakh shares in the past one quarter. The stock had hit a high of Rs 301 and a low of Rs 285 so far during the day. The stock hit a record high of Rs 337.95 on 12 September 2017. The stock hit a 52-week low of Rs 111.20 on 9 November 2016.

The stock had underperformed the market over the past one month till 25 October 2017, falling 7.16% compared with 4.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.84% as against Sensex's 2.04% rise. The scrip had outperformed the market in past one year, rising 127.16% as against Sensex's 18.70% rise.

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

KEC International said that the transmission & distribution business has secured orders of Rs 1756 crore across India, SAARC, Middle East, Africa and the Americas. The cables business has secured orders of Rs 112 crore covering various types of cables. The railways business has secured an order from IRCON of Rs 54 crore for railway electrification Works in Northern India. The solar business has received orders of Rs 9 crore for the construction of a 6 megawatt peak (MWp) ground mount project in Northern India.

On a consolidated basis, net profit of KEC International rose 103.72% to Rs 62.97 crore on 6.18% rise in net sales to Rs 1856.76 crore in Q1 June 2017 over Q1 June 2016.

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, renewables and civil. Globally, the company has powered infrastructure development in 63 countries. It is the flagship company of the RPG Group.

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