KEC International in demand after new order win

KEC International rose 2.41% to Rs 216.60 at 09:20 IST on BSE after the company said it has secured new orders of Rs 1781 crore.

The company made the announcement yesterday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was down 54.34 points or 0.18% at 29,855.88

On the BSE, 48,000 shares were traded on the counter so far as against the average daily volumes of 1.13 lakh shares in the past one quarter. The stock had hit a high of Rs 220.85 and a low of Rs 216 so far during the day. The stock had hit a record high of Rs 215.40 on 3 April 2017 and a 52-week low of Rs 111.20 on 9 November 2016.

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

KEC International said that of the total new orders of Rs 1781 crore, the company's transmission & distribution business secured orders worth Rs 1702 crore and cables business received orders of Rs 79 crore.

Vimal Kejriwal, MD & CEO, KEC International, said, the latest orders have significantly strengthened the company's international order book especially in the Middle East and Africa.

On a consolidated basis, KEC International's net profit surged 139.02% to Rs 62.60 crore on 7.49% fall in net sales to Rs 1882.44 crore in Q3 December 2016 over Q3 December 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, renewables and civil.

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