KEC International soars on bagging orders worth Rs 1,412 crore

KEC International is currently trading at Rs. 95.50, up by 5.00 points or 5.52% from its previous closing of Rs. 90.50 on the BSE.

The scrip opened at Rs. 96.00 and has touched a high and low of Rs. 99.90 and Rs. 95.10 respectively. So far 201702 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 153.00 on 08-Jul-2014 and a 52 week low of Rs. 50.15 on 17-Feb-2014.

Last one week high and low of the scrip stood at Rs. 91.95 and Rs. 87.55 respectively. The current market cap of the company is Rs. 2482.19 crore.

The promoters holding in the company stood at 50.01% while Institutions and Non-Institutions held 34.66% and 15.33% respectively.

KEC International, a global infrastructure EPC major, an RPG Group company has secured new orders worth Rs 1,412 crore in its Transmission & Distribution and Cables businesses. Under, Transmission & Distribution Businesses, the company has secured orders in India, Africa and the Americas amounting to Rs 1,128 crore. In India, the company has secured turnkey order for 400 kV transmission line from Vasanthapura to Kelagina Kanive in Karnataka. The order is secured from Karnataka Power Transmission Corporation and the order value is Rs 543 crore.

Besides, it has bagged turnkey order for 400kV transmission line from Kharagpur in West Bengal to Chaibasa in Jharkhand. This order is secured from Sterlite Power Grid Ventures for one of their BOO projects under Eastern Region System Strengthening Scheme - VII and the order value is Rs 112 crore. In addition, the two orders were secured from Power Grid Corporation of India; an order for supply and construction work of 400 kV transmission line from Wardha to Aurangabad in Maharashtra and another, a turnkey order for 400 kV transmission line in Jammu and Kashmir. The order value is Rs 79 crore and Rs 27 crore respectively. Another, order was bagged for supply and erection of 220kV transmission line in West Bengal. The order is secured from West Bengal State Electricity Transmission Company and the order value is Rs 71 crore.

Further, in Africa the company has secured orders amounting to Rs 83 crore while in America, SAE Towers, the wholly owned subsidiary of the company has secured orders for the supply of lattice towers, monopoles, hardware and EPC works from the United States, Brazil, Mexico and Chile. The total value of these orders is Rs 213 crore.

Under Cables Business, the company has secured orders for the supply of Power and Telecom Cables. The total value of these orders is Rs 284 crore.