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KEC International shares soar to a 52-week high on ₹1,704 crore order win

Stocks
2 min Read Nov 28, 2024
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KEC International's share price reached a new 52-week high of ₹1,094.95 during the opening trade on 28th November, following the announcement of a significant order win worth ₹1,704 crore from Power Grid Corporation of India Limited (PGCIL). This milestone highlights the company’s robust growth trajectory, bolstered by continuous order inflows.

At 09:20 AM, the stock was trading at ₹1,084.10 on the BSE, marking an increase of ₹60.65 or 5.93%.

Significant order wins drive growth

The latest turnkey orders secured by KEC International in the Transmission & Distribution (T&D) business encompass the design, supply, and installation of 765 kV Transmission Lines and GIS Substations. These orders are a testament to the company’s expertise in delivering large-scale infrastructure projects.

Vimal Kejriwal, MD & CEO of KEC International, expressed optimism about the company’s growth, stating:

“We are delighted with the continuous inflow of orders, especially in our T&D business. These 765 kV orders from PGCIL have further strengthened our India T&D order book, reaffirming our confidence in the continued strong growth of this business. With these orders, our YTD order intake now stands at ₹16,300 crore, reflecting an impressive growth of over 60% compared to last year.”

Investors considering buying shares online have been drawn to KEC International due to its consistent performance and promising outlook.

Recent order wins across segments

On 25th November, KEC International secured additional orders worth ₹1,114 crore across multiple business segments:

  1. T&D Business: Secured projects in the Middle East and the Americas, including a 400 kV Transmission Line in Oman and supply contracts for towers, hardware, and poles in the Americas.

  2. Civil Business: Received orders in the industrial segment within India.

  3. Railways: Won a metro Overhead Electrification (OHE) project in the technologically enabled segment in India.

  4. Cables: Secured supply orders for various cable types in India and overseas.

These orders highlight the company's diversification strategy and its ability to secure projects in both domestic and international markets.

Financial performance strengthens investor confidence

KEC International reported a 53% year-on-year jump in net profit for the September 2024 quarter, reaching ₹85.41 crore. Over the past year, the share price has surged by 90%, showcasing the company's strong operational and financial performance.

This growth trajectory positions KEC International as an attractive option for investors looking to buy shares online in a well-performing infrastructure company.

Why KEC International shares are a strong investment?

KEC International's continued success in securing large-scale projects and its diversified order book underlines its market leadership in the infrastructure sector. With a 60% growth in year-to-date order intake and strong financial results, the company is poised for sustained growth.

Investors exploring opportunities to buy shares online may find KEC International a compelling choice, supported by its impressive track record and growth potential.