On Wednesday, KEC International witnessed a significant surge in its share price, soaring by over 11% and reaching a 52-week high. This boost came after the infrastructure company secured fresh orders valued at ₹1,012 crore spanning across its diverse business segments. KEC International shares experienced a remarkable rally, surging as high as 11.22% to reach ₹739.00 per share on the BSE.
KEC International announced that its civil business unit had successfully secured orders from new clients within the Data Center and FMCG sectors in India. Specifically, these orders entail the construction of a data center in Western India and the establishment of a manufacturing facility for a prominent global FMCG company in Southern India.
In addition to these developments, the Transmission & Distribution (T&D) division of the company also secured substantial orders. These include a 765 kV transmission line order from an existing private client in India and the supply of towers, hardware, and poles in America, as disclosed by KEC International in a regulatory filing on Tuesday.
Vimal Kejriwal, MD & CEO of KEC International Ltd, expressed his perspective on these achievements, stating, “The civil business continues to diversify its customer base, with the addition of marquee clients. The prestigious order for building a Data center reaffirms our confidence in the strong growth of this segment. We are particularly encouraged by the continuous inflow of tower supply orders from the North American market.”
Furthermore, the company’s cables business unit has secured orders for the supply of various types of cables, both within India and internationally.
Kejriwal added, “With the above orders, our YTD order intake stands at a record level of over ₹6,500 crore, a strong growth of 11% vis-à-vis last year.”
Over the past month, KEC International’s share price has witnessed a robust increase, surging by more than 13%. Year-to-date, the stock has demonstrated significant growth, rising by over 43%, and over the past year, it has surged by an impressive 65%.
As of 9:40 am, KEC International shares were trading at ₹710.55 apiece on the BSE, representing a 6.95% increase.
