KEC International Share Price Rises After Securing Orders Worth Rs 1,036 cr

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by Sandip Das on 30 April 2024,  4 min read

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KEC International experienced a robust surge in its share price, climbing nearly 3 percent intraday on April 30. This uptick came following the company’s successful acquisition of new orders amounting to Rs 1,036 crore across its diverse spectrum of operations.

Within its Transmission & Distribution (T&D) division, KEC International secured contracts for T&D ventures spanning the Middle East and the Americas. These projects include the establishment of overhead transmission lines in the United Arab Emirates (UAE) and the provision of towers, hardware, and poles in the Americas.

Meanwhile, the Railways segment clinched an order for supplementary work in the traditional sector within India. Concurrently, the cable business secured contracts for the supply of various cable types both domestically and internationally.

Also read: Buy Axis Bank, Nestle India For Up To 13% Return

A pivotal moment looms as the company’s board of directors convenes on Tuesday, May 7, 2024. The agenda includes deliberation and endorsement of the audited standalone and consolidated financial outcomes for the quarter and fiscal year concluded on March 31, 2024. Furthermore, considerations will be made regarding the potential issuance of dividends on equity shares for the fiscal year concluded on March 31, 2024.

KEC International on April 3 secured orders worth Rs 816 crore across its varied business verticals.

Expressing satisfaction with the auspicious commencement of the fiscal year, Vimal Kejriwal, Managing Director & CEO of KEC International Ltd., said, “We are delighted to commence the financial year with prestigious order acquisitions, particularly in our T&D business. These acquisitions have notably augmented our order backlog in the international T&D market, fortifying our presence in the Middle East. The influx of orders at the onset of the fiscal year underscores our confidence in achieving the targeted order intake for the year.”

Source: BSE

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Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.

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