KEC International gains after winning orders

KEC International rose 2.61% to Rs 159.10 at 9:32 IST on BSE after the company said it secured new orders worth Rs 1001 crore in its transmission & distribution, cables and solar businesses.

The announcement was made before trading hours today, 1 January 2016.

Meanwhile, the BSE Sensex was down 66.42 points, or 0.25%, to 26,051.12.

On BSE, so far 77,000 shares were traded in the counter, compared with an average volume of 1.33 lakh shares in the past one quarter.

The stock hit a high of Rs 164.15 and a low of Rs 159.10 so far during the day. The stock hit a 52-week high of Rs 164.75 on 24 November 2015. The stock hit a 52-week low of Rs 71.95 on 26 March 2015.

The stock had underperformed the market over the past one month till 31 December 2015, sliding 1.96% compared with 0.11% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.34% as against Sensex's 0.14% fall.

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

In its transmission & distribution business, KEC International secured orders in Saudi Arabia, Oman, India, Afghanistan, Zambia and the Americas amounting to Rs 822 crore.

Further, the company secured various orders worth Rs 160 crore for the supply of power and telecom cables.

The company secured an order of Rs 19 crore for setting up of grid interactive solar photovoltaic power plant in Andhra Pradesh.

On a consolidated basis, net profit of KEC International rose 117.34% to Rs 44.12 crore on 6.63% decline in net sales to Rs 1998.27 crore in Q2 September 2015 over Q2 September 2014.

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.

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