KEC International surges 6% to hit 52-week high on Rs 1,373-crore order win

The company is witnessing a good traction in the tower supply orders, especially in North America, the management said.

Shares of KEC International rallied 6 per cent to hit 52-week high of Rs 586 in Wednesday’s intra-day trade, after the company secured new orders worth Rs 1,373 crore across various businesses.

The company’s railway business secured orders in the technologically enabled and conventional/emerging segments in India. It secured orders for signaling & telecommunication for Automatic Block Signaling (ABS) system.

That apart, the company also bagged orders for 2 x 25 kV (kilovolt) Overhead Electrification (OHE) & associated works for speed upgradation.

Meanwhile, the transmission & distribution (T&D) business secured orders for T&D projects in India and Americas. The order includes 400 kV transmission line order in India, supply of towers in India and the USA, and supply of towers, hardware and poles in Americas, secured by subsidiary, SAE Towers.

In line with the government’s focus on increasing capacity, speed and safety of the Indian Railway network, the company has forayed in the emerging segment of Automatic Block Signaling (ABS) to increase line capacity through automation, the management said.

"The company’s civil business continues to witness an exponential growth trajectory which is reflected in the orders secured. The repeat order in T&D from an existing private developer reaffirms the growth of the India T&D business. The company is also witnessing a good traction in the tower supply orders, especially in North America," the management said.

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, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables.