KEC International surges on bagging orders worth Rs 914 crore

KEC International is currently trading at Rs. 59.25, up by 1.45 points or 2.51% from its previous closing of Rs. 57.80 on the BSE.

The scrip opened at Rs. 58.95 and has touched a high and low of Rs. 61.20 and Rs. 58.00 respectively. So far 56583 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 80.70 on 29-Oct-2012 and a 52 week low of Rs. 47.30 on 01-Mar-2013.

Last one week high and low of the scrip stood at Rs. 61.20 and Rs. 49.95 respectively. The current market cap of the company is Rs. 1529.68 crore.

The promoters holding in the company stood at 44.51% while Institutions and Non-Institutions held 38.66% and 16.83% respectively.

KEC International, a global infrastructure EPC major, has secured new orders worth Rs 914 crore in its transmission, power system and cables businesses from India and International markets. Under its transmission business, SAE Towers, the wholly owned subsidiary of the company, in America, has secured largest ever poles supply order worth Rs 73 crore from Canada.

SAE Towers is expanding its pole production capacity from 5,000 MTs to 12,000 MTs at its existing facility in Mexico at an investment of Rs 25 crore to cater to the increasing demand of poles in the North America region, the expansion is likely to be completed by September 2013. In addition, SAE Towers has also secured orders for supply of lattice towers and hardware from Canada, United States, Brazil and Mexico. The total value of these orders is Rs 115 crore.

Meanwhile, the company under its transmission business has bagged orders in Indonesia, Saudi Arabia and India for Rs 129 crore, Rs 196 crore and Rs 219 crore respectively. The company has secured additional orders from its existing Transmission projects. The total value of these orders is Rs 68 crore.

Under its Power System business, the company has secured an order for establishment of a 765kv Gas Insulated Substation (GIS) in Tamil Nadu for PGCIL. The order value is Rs 40 crore. At the same time, the company has won order, under its cable business, worth Rs 74 crore for the supply of power and telecom cables.

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