KEC International’s shares soared to a record high of Rs 1,098.95 during Monday’s intraday trade on the BSE, gaining 4.17%. The surge came after the company announced securing orders worth Rs 1,040 crore on Friday.
As of 10:50 AM on Monday, KEC International’s shares were trading 1.57% higher at Rs 1,072.10 on the BSE, while the benchmark Sensex was marginally down 0.07% at 79,743.61.
The RPG Group-owned infrastructure EPC major reported that the new orders in its transmission and distribution (T&D) business were for projects in international markets. These include supplying towers, hardware, and poles in the Americas, along with 220 kV transmission lines in the CIS region, according to the company’s statement.
We are delighted with the continuous order wins in our T&D business. The order in the CIS reinforces our presence in the region and strengthens our international T&D order book. Our subsidiary, SAE Towers, has secured multiple orders in the USA, Mexico, and Brazil, reflecting the growing demand in the American T&D market. With these orders, our year-to-date order intake has surpassed Rs 17,300 crore, representing a robust 75% growth compared to last year.
Vimal Kejriwal, MD & CEO of KEC International, said on the development
KEC International operates globally in the Engineering, Procurement, and Construction (EPC) sector, spanning diverse industries such as Power Transmission and Distribution, Railways, Civil Engineering, Urban Infrastructure, Solar Energy, Oil & Gas Pipelines, and Cables.
On the stock market front, KEC International has significantly outperformed broader indices. Year-to-date, its shares have climbed 76%, and they have risen 81% over the past year. In comparison, the BSE Sensex has gained 10% year-to-date and 18% over the last year.
The company’s market capitalization stands at Rs 28,573.91 crore. Its shares are currently trading at a price-to-earnings (P/E) ratio of 125, with earnings per share (EPS) at Rs 8.54.
