New orders boost KEC International

KEC International was up 1.3% to Rs 140.45 at 10:56 IST on BSE after the company said it has secured new orders of Rs 840 crore.

The announcement was made after market hours on Friday, 2 December 2016.

Meanwhile, the S&P BSE Sensex was down 27.56 points or 0.11% at 26,203.10.

On the BSE, 61,000 shares were traded on the counter so far as against the average daily volumes of 91,045 shares in the past one quarter. The stock had hit a high of Rs 144 and a low of Rs 140.30 so far during the day. The stock had hit a 52-week high of Rs 164.15 on 1 January 2016 and a 52-week low of Rs 97.45 on 12 February 2016. It had outperformed the market over the past one month till 2 December 2016, advancing 12.82% compared with the Sensex's 4.71% fall. The scrip had also outperformed the market in the past one quarter, gaining 2.4% as against the Sensex's 8.07% fall.

 

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

Of the total new orders of Rs 840 crore, the company's transmission & distribution business secured orders worth Rs 723 crore and cables business received orders of Rs 117 crore.

Vimal Kejriwal, MD & CEO, KEC International, said, the latest orders have significantly strengthened KEC's order book position and continue to consolidate its presence in the international transmission and distribution (T&D) arena.

On a consolidated basis, KEC International's net profit surged 131% to Rs 65.04 crore on 2.7% growth in net sales to Rs 2050.69 crore in Q2 September 2016 over Q2 September 2015.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, water and renewables. It is a RPG group company.

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