KEC International rises on securing orders worth Rs 740 crore

KEC International is currently trading at Rs. 57.00, up by 1.95 points or 3.54% from its previous closing of Rs. 55.05 on the BSE.

The scrip opened at Rs. 55.65 and has touched a high and low of Rs. 58.00 and Rs. 55.00 respectively. So far 39609 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 82.50 on 01-Aug-2011 and a 52 week low of Rs. 31.80 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 58.10 and Rs. 54.50 respectively. The current market cap of the company is Rs. 1469.26 crore.

The promoters holding in the company stood at 43.92% while Institutions and Non-Institutions held 39.60% and 16.47% respectively. 

KEC International (KEC), a global Infrastructure EPC major, an RPG Group company, has secured new orders worth Rs 740 crore spread across its Transmission, Power Systems, Railways and Cable businesses.

Under Transmission business, the company has secured orders from Bangladesh and Americas (United States, Canada, Mexico and Brazil). In Bangladesh, the order is for establishment of 132 kV double circuit transmission line between Jamalpur- Sherpur and Fenchuganj-Kulauara on turnkey basis from the Power Grid Company of Bangladesh (PGCB). The order value is Rs 53 crore, project duration Is 18 months and total line length is 45 kilometers. In America, SAE Towers, the wholly owned subsidiary of the company, has secured various orders for supply of lattice towers, poles and hardwares to United States, Canada, Mexico and Brazil. The total value of these orders is Rs 180 crore.

Under Power Systems business, the company has secured orders from Malaysia and Kenya. In Malaysia, the order is for establishment of 275 kV substations on turnkey basis at Similajau & Oya. The order is secured from Sarawak Energy Berhad (SEB), Malaysia. The order value is Rs 75 crore and project duration is approximately 20 months. In Kenya, the order is for establishment of 66/33/11kV distribution lines on turnkey basis in Mount Kenya region of Natrobl. The order is secured from Kenya Power and Lighting Company (KPLC). The order value is Rs 28 crore, project duration is 15 months and total line length is 100 kilometers.

Under Railway business, the company has received an order for establishment of Power Supply, Signaling and Telecommunication Systems on a turnkey basis. The project is part of the North-South Railway project In Turkmenistan. The order is secured from the Ministry of Railway Transport of Turkmenistan. This project is secured in consortium with a company based in the CIS region. The project value is Rs 588 crore in which the company’s share is Rs 192 crore. The duration of the project is 18 months. Besides, this is the largest ever railway order for the company. With the entry in Turkmenistan, the company has expanded its footprint in CIS region. The company already has presence in Kazakhstan, Tajlkistan and Georgia in this region.

Finally under the Cable business, the company has secured various orders for supply of Power Cables and Telecom Cables. The total value of these orders is Rs 212 crore.

KEC International is global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of power transmission, power systems, cables, railways, telecom and water.