Shares of this construction stock under the ‘small-cap’ category soared up to 8 percent after receiving new orders across a wide range of business divisions. In the last six months, the stock has jumped nearly 37 percent from Rs 476.90 to the current price level.
With a market capitalization of Rs 16,848.29 crores, the stocks of KEC International Limited started their trading session on Monday at Rs 658.75 and currently trade at Rs 655.30. The company’s scrip witnessed an intra-day high of Rs 674 indicating a gain of approximately 8 percent compared to the previous closing levels of Rs 623.95 apiece.
Such stock price movements were observed today after the company, through a regulatory filing with the exchange dated 18th August 2023, announced that it has bagged new orders worth Rs 1,007 crores across various business divisions.
The business divisions include ‘Civil’, ‘Transmission & Distribution’ (T&D), and ‘Cable’ business bagging orders pertaining to the EPC project of Multispeciality Hospital, 380 kV Overhead Transmission line project in the Middle East, and, supply of various types of cables (within & outside India) respectively.
Historically, the company has successfully increased its operating revenues which moved from Rs 13,742.26 crores during FY21-22 to Rs 17,281.71 crores during FY22-23. On a contrasting note, the after-tax profits took a shift down from Rs 332.08 crores to Rs 176.03 crores keeping the timeframe the same.
As per the quarter ended June 2023, the shareholding data shows the company’s Promoters holding a 51.88 percent stake, and the Foreign Institutional Investors (FIIs) holding a 11.58 percent stake in the company.
KEC International Limited is involved in the business of power transmission and distribution, railway construction, cable manufacturing, and many more. The company generates the majority of its revenue from the execution of infrastructure engineering, procurement, and construction contracts.
Written by Amit Madnani
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