New orders boost KEC International

KEC International rose 1.34% to Rs 125 at 14:46 IST on BSE after the company said it has secured new orders aggregating Rs 1209 crore in its transmission & distribution and cables businesses.

The company announced the new orders during market hours today, 12 June 2014.

Meanwhile, the S&P BSE Sensex was down 6.63 points or 0.03% at 25,467.26.

On BSE, so far 3.32 lakh shares were traded in the counter as against average daily volume of 1.22 lakh shares in the past one quarter.

The stock hit a high of Rs 127.90 and a low of Rs 122.65 so far during the day. The stock hit a 52-week high of Rs 129.90 on 27 May 2014. The stock 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 11 June 2014, surging 46.15% compared with the Sensex's 10.78% rise. The scrip had also outperformed the market in past one quarter, jumping 101.22% as against Sensex's 16.71% rise.

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

KEC International's transmission & distribution business secured orders in Saudi Arabia, Uganda, India and the Americas amounting to Rs 1126 crore.

The company's cables business secured orders for the supply of power and telecom cables. The total value of these orders is Rs 83 crore.

KEC International reported a consolidated net profit of Rs 34.35 crore in Q4 March 2014 as against net loss of Rs 13.93 crore in Q4 March 2013. Net sales rose 1.9% to Rs 2144.03 crore in Q4 March 2014 over Q4 March 2013.

KEC International is a global infrastructure engineering, procurement and construction (EPC) company.

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