KEC Intl jumps on winning orders

KEC International surged 2.05% to Rs 351.05 after the EPC company said it has secured new orders worth Rs 1,033 crore across its various businesses.

KEC's transmission & distribution business has secured orders of Rs 890 crore for T&D projects in India, Africa, East Asia Pacific and the Americas. The railways business has secured orders of Rs 79 crore for signaling and telecommunication (S&T) and metro electrification works in India. The cables business has secured orders of Rs 64 crore for various types of cables/ cabling projects in India and overseas.

Vimal Kejriwal, MD & CEO, KEC International commented, Our International order book has strengthened significantly in the last few months especially in the Middle East and Africa regions. In line with our strategy to diversify into new segments, we are pleased with the order win for metro electrification works, which marks our entry into the technologically enabled areas of urban infra.

Shares of KEC International have added 15% in six trading sessions from its previous closing low of Rs 305.95 on 23 September 2020.

KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of power transmission & distribution, railways, civil, solar, smart infrastructure and cables.

The company reported 20% decline in consolidated net profit to Rs 71 crore on 9% fall in revenues to Rs 2,207 crore in Q1 June 2020 over Q1 June 2019. EBITDA margin was at 8.8% as on 30 June 2020 as against 10.4% as on 30 June 2019.

Powered by Capital Market - Live News