KEC International Rallies Over 11% To Hit 52-Week High On Rs 1,012-Crore Order Win

Shares of KEC International hit a fresh high of Rs 739 on Wednesday as they rallied 11 per cent on the BSE in Wednesday’s intra-day trade after the company said it has secured new orders worth Rs 1,012 crore across various businesses.

KEC International shares rallied as much as 11.22 per cent to a 52-week high of Rs 739.00 apiece on the BSE.

KEC International said its civil business has secured orders from new clients in the Data centre and FMCG segments in India.

The order is for building a data centre in Western India and setting up of a manufacturing facility for a global FMCG major in Southern India.

The Transmission & Distribution (T&D) business of the company secured orders for 765 kV transmission line order in India from an existing private client and supply of towers, hardware and poles in America, KEC International said in a regulatory filing on Tuesday.

“The civil business continues to diversify its customer base, with the addition of marquee clients. The prestigious order for building a Data centre, reaffirms our confidence in the strong growth of this segment. We are particularly encouraged by the continuous inflow of tower supply orders from the North American market,” said Vimal Kejriwal, MD & CEO, KEC International Ltd.

Additionally, the company’s cables business has secured orders for supply of various types of cables in India and overseas.

“With the above orders, our YTD order intake stands at a record level of over Rs 6,500 crore, a strong growth of 11% vis-à-vis last year,” Kejriwal said.

KEC International share price has gained more than 13 per cent in the last one month. The stock is up over 43 per cent this year so far and has rallied 65 per cent in the last one year period.