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KEC International climbs after winning new orders

Capital Market 

KEC International rose 1.51% to Rs 275.70 after the company said it secured new orders of Rs 1,806 crore across its various businesses.

The company said its railway business has secured orders of Rs 1,303 crore in India. Transmission & Distribution (T&D) business and SAE Towers have secured orders of Rs 283 crore for T&D projects in India, East Asia Pacific and the Americas. The civil business has secured orders of Rs 63 crore for civil and construction works in India. The cables business has secured orders of Rs 157 crore for various types of cables/ cabling projects. The announcement was made before trading hours today, 4 November 2019.

Vimal Kejriwal, MD & CEO, KEC International commented, "We are delighted with the new orders secured across our business verticals, especially in Railways, which continues to expand its portfolio. The Railway business continues to remain on a high growth trajectory. These large order wins further consolidate our leadership position in this sector."

Shares of KEC International rose 1.80% in two trading sessions to its current market price of Rs 275.70 from a recent closing low of Rs 270.80 on 31 October 2019.

Meanwhile, the S&P BSE Sensex was up 162 points or 0.40% to 40,326.90.

On the BSE, 16,956 shares were traded in the counter so far compared with average daily volumes of 13,314 shares in the past two weeks. The stock hit an intraday high of Rs 284 and an intraday low of Rs 275.25 so far during the day.

The stock hit a 52-week high of Rs 340.50 on 4 July 2019. The stock hit a 52-week low of Rs 229.95 on 15 February 2019.

KEC International's consolidated net profit rose 2% to Rs 88.61 crore on 14.6% jump in net sales to Rs 2,412.45 crore in Q2 September 2019 over Q2 September 2018.

KEC International is engaged in the construction of utility projects.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 04 2019. 10:24 IST