KEC International extends gain on bagging multiple orders worth Rs 756 crore

KEC International is currently trading at Rs. 49.75, up by 1.00 points or 2.05% from its previous closing of Rs. 48.75 on the BSE.

The scrip opened at Rs. 49.40 and has touched a high and low of Rs. 50.35 and Rs. 49.20 respectively. So far 3,799 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 74.45 on 02-Jan-2013 and a 52 week low of Rs. 23.25 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 53.65 and Rs. 48.20 respectively. The current market cap of the company is Rs. 1,279.00 crore.

The promoters holding in the company stood at 47.71% while Institutions and Non-Institutions held 35.07% and 17.22% respectively.

KEC International, a global infrastructure EPC major, an RPG Group company has secured new orders of Rs 756 crore in its Transmission, Water, Power Systems and Cables businesses. In the Transmission Business, the company has secured orders in the Americas, Saudi Arabia and Abu Dhabi amounting to Rs 324 crore.

In America, the company has forayed into the EPC space in the Americas by securing its first transmission line order in Brazil, which is to the worth of Rs 44 crore. The scope includes design, supply and erection of 230 kV transmission line on turnkey basis and this order is secured by the SAE Towers. With this order, SAE Towers has expanded its portfolio from tower supply to complete EPC space. KEC will look forward to leverage its global EPC expertise along with its strong local foothold through SAE Towers in this market. In addition, SAE Towers has also secured orders for supply of lattice towers, monopoles and hardwares from the United States, Brazil, Canada, Mexico and Honduras. The total value of these orders is Rs 61 crore.

In Saudi Arabia, the company has received two orders for supply and erection of 110 kV double circuit transmission line in Saudi Arabia. The orders are secured from the National Grid SA and are valued at Rs 209 (KEC Share). In Abu Dhabi, the company has secured an additional order in its existing project in the country. The order value is Rs 10 crore.

In the Water Business, the company has secured three orders in India amounting to Rs 245 crore. Meanwhile, in the Power Systems Business, the Company has secured an order for establishment of 220/400 kV Gas Insulated Substations (GIS) at Kishanganj in Bihar. The order is secured from the Power Grid Corporation of India and is valued at Rs 102 crore (KEC Share). Lastly, in the Cables Business, the company has secured orders for the supply of Power and Telecom Cables, to the tune of Rs 85 crore.