Share price of this mid-cap cable stock and a global infrastructure EPC major, moved up by nearly 6.5 percent on BSE to hit an intraday high at Rs. 778.6 in the morning trading session of Tuesday, after the company announced securing orders worth Rs. 1,036 crore.
With a market capitalisation of Rs. 19,405 crores, at 10:34 a.m. the shares of KEC International Limited were trading in the green at Rs. 754.8, up by 3.21 percent.
According to recent regulatory filings with the stock exchanges, KEC International Limited has secured new orders worth Rs. 1,036 crores across its various businesses.
Within the company’s Transmission & Distribution (T&D) segment, it has secured orders for T&D projects in the Middle East and Americas, including the setting up of Overhead Transmission lines in the United Arab Emirates (UAE), and supply of towers, hardware and poles in America.
The company received orders for additional work in the conventional segment in India under its Railway segment.
Finally, the cable business of the company secured orders for the supply of various types of cables in India and overseas.
In terms of financials, the company’s revenue from operations grew by nearly 134.4 percent from Rs. 4,375 crore in Q3 FY22-23 to Rs. 5,007 crore in Q3 FY23-24, accompanied by an increase in the net profit by 438.8 percent from Rs. 18 crore to Rs. 97 crore during the same period.
As of March 2024, FIIs hold 12.45 percent of the shares, while DIIs hold 25.84 percent of the shares in the company, aggregating to 38.29 percent of the institutional holdings.
In the last one year, the company has delivered positive returns of about 51.5 percent and nearly 19.7 percent in the last six months. So far in 2024, it has given around 24.6 percent of positive returns.
KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major and the flagship company of the RPG Group.
The company has a presence in the verticals of power transmission & distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables.
Written by Shivani Singh
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