New orders boost KEC International

KEC International surged 6.67% to Rs 39.20 at 14:22 IST on BSE after the company said it has secured new orders aggregating Rs 568 crore in its transmission and cables businesses.

The new orders were announced after market hours on Wednesday, 13 November 2013.

Meanwhile, the S&P BSE Sensex was up 246.88 points or 1.22% at 20,441.28.

On BSE, 87,000 shares were traded in the counter as against average daily volume of 58,865 shares in the past one quarter.

The stock hit a high of Rs 40.60 and a low of Rs 38.25 so far during the day. The stock had hit a 52-week high of Rs 74.45 on 2 January 2013. The stock had hit a 52-week low of Rs 23.25 on 4 September 2013.

The stock had outperformed the market over the past one month till 13 November 2013, surging 13.08% compared with the Sensex's 1.63% fall. The scrip had also outperformed the market in past one quarter, jumping 47.59% as against Sensex's 5.02% rise.

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

KEC International's transmission business secured orders aggregating Rs 493 crore from India, Americas, Bangladesh and Saudi Arabia. KEC International's cables business bagged orders worth Rs 75 crore.

KEC International's consolidated net profit surged 34% to Rs 22.09 crore on 6.3% growth in net sales to Rs 1744 crore in Q2 September 2013 over Q2 September 2012.

KEC International is a global infrastructure engineering, procurement and construction (EPC) company. It has presence in the verticals of power transmission, power systems, cables, railways, telecom and water. The company has powered infrastructure development in 50 countries across Africa, Americas, Central Asia, Middle East, South Asia and South East Asia. It is the flagship company of the RPG Group.

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