KEC International shares falls despite New Orders gains of Rs. 1,136 crores
KEC International Ltd., a global infrastructure EPC major, has secured new orders of Rs. 1,136 crores.
KEC International wins New Orders of Rs. 1,136 crores across various business
KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs. 1,136 crores across its various businesses as described below. The shares remain flat despite huge order gain.
Transmission & Distribution (T&D): The business has secured an order for a 765 kV Transmission line project in India, from Power Grid Corporation of India Limited (PGCIL).
Transportation: The business has secured a significant order in the prestigious Train Collision Avoidance System (TCAS) segment under ‘Kavach’ in India.
Oil & Gas Pipelines: The business has secured a design, supply and build order for pipeline and associated works from a leading PSU in India.
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Mr. Vimal Kejriwal, MD & CEO, of KEC International Ltd. commented, “We are delighted with the multiple orders secured across our business verticals. The 765 kV order from PGCIL for the evacuation of green energy has boosted our T&D order book in India. Our Transportation business has strengthened its presence in the growing TCAS segment under ‘Kavach’ to enhance the safety of Indian Railways with world-class technology. The Oil & Gas Pipelines business has widened its footprint by securing its first order in the composite space (including design, supply, and build). With these new orders, our YTD order intake has reached Rs. 20,600 crores, a growth of ~80% vis-à-vis last year.”
The stock fell over 6% on January 8, 2025, continuing a downward trend with a 10.47% loss over three days. The stock reached an intraday high of Rs 1171 and a low of Rs 1095.75. Over the past month, it has declined by 9.80%"