Share price of construction engineering company, KEC International will be in focus after the firm secured new orders worth Rs 1,303 crore across multiple business segments. These orders span its transmission & distribution (T&D), civil, renewables, and cables & conductors businesses.
KEC International: Order win key details
The company’s T&D sector has bagged projects across India and America for electrical transmission from a private developer in Southern India. Under the scope of work, the company will supply towers, hardware and poles in America.
KEC International’s civil business unit has secured an order for the construction of a press shop and related facilities for an automobile factory located in Northern India. The name of the party awarding the order has not been disclosed.
Under its renewables business, the infrastructure major has been awarded an order for the development of wind project with a power capacity of more than 150 megawatts. The facility will be developed in Western part of the country and KEC has bagged the contract from a private developer.
The company’s cables & conductors business unit has secured multiple contracts across India and overseas markets. Together these orders stand at a net value of Rs 1,303 crores.
These order wins were announced post market hours on Tuesday.
KEC International: Management commentary
Commenting on these new orders, Vimal Kejriwal, MD & CEO of KEC International said, “We are pleased with the new order wins across businesses in India. Our T&D business has significantly enhanced its order book in India T&D with a repeat order from an existing private client”
He added that the company’s civil business has widened its presence in the automobile segment with an order from one of India’s leading automobile manufacturers adding a marquee client to its portfolio.
“Our Renewables business has strengthened its Wind EPC portfolio with successive order wins. These strategic wins will play a pivotal role in driving our targeted growth going forward,” Kejriwal said in a statement.
KEC International: Share Price
The company’s share price at the end of Tuesday’s trade stood at Rs 499.95, down 1.5% from its previous close. Over the past one month KEC International’s stock has declined by more than 13%, while over the past six months its share price has fallen by over 28%.
So far this year the company’s stock has declined by 32%.
About the company
KEC International is an infrastructure engineering, procurement, and construction company under the RPG Group. The company operates across power transmission and distribution, civil infrastructure, railways and transportation, and cable manufacturing businesses.