KEC International spurts after winning orders

KEC International rose 5.68% to Rs 288.20 at 14:53 IST on BSE after the company said it has secured new orders worth Rs 1,323 crore across its various businesses.

The announcement was made during trading hours today, 12 March 2019.

Meanwhile, the S&P BSE Sensex was up 472.11 points, or 1.27% to 37,526.21.

On the BSE, 1.79 lakh shares were traded in the counter so far compared with average daily volumes of 65,000 shares in the past two weeks. The stock had hit a high of Rs 291.85 and a low of Rs 274.45 so far during the day. The stock hit a 52-week high of Rs 442.60 on 19 April 2018. The stock hit a 52-week low of Rs 229.95 on 15 February 2019.

KEC International said that its transmission & distribution (T&D) business has secured turnkey orders of Rs 287 crore across India, UAE and the Americas. The railway business has secured orders for composite and overhead electrification works aggregating to Rs 644 crore in India. The civil business has secured fresh and change orders for civil and construction works aggregating to Rs 91 crore from leading automobile companies. The Smart Infra business has secured two orders as Master Service Integrator for Smart City ICT Components aggregating to Rs 233 crore for one brownfield and one greenfield smart city. The cables business has secured orders of Rs 68 crore for various types of cables/cabling works.

On a consolidated basis, net profit of KEC International rose 0.54% to Rs 112.37 crore on 10.06% rise in net sales to Rs 2646.63 crore in Q3 December 2018 over Q3 December 2017.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, railways, civil, solar, smart infra, and cables.

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