In the transmission and distribution sector, KEC International has been awarded a project to construct 765 kV/400 kV transmission lines from a major private developer in India. The company has also been awarded contracts for 230/132 kV transmission lines in Saudi Arabia and Oman.
The stock opened at ₹889.65 on the BSE, marking a rise of nearly 6% from the previous close of ₹840. It continued its uptrend and touched an intraday high of ₹926.95, reflecting a rise of 9% from Friday’s closing level.
At this level, the stock was trading 68% higher from its 52-week low of ₹551.
KEC International will also be responsible for upgrading an existing 400 kV transmission line in the United Arab Emirates, as well as supplying towers, hardware and poles across the Americas. The cable segment has also been very active, receiving significant orders for various types of cables in both domestic and international markets.
“The significant orders received from Saudi Arabia, Oman and UAE have significantly expanded our international transmission and distribution order book in the Middle East. With these orders, our year-to-date cumulative order book has crossed Rs 8,700 crore, reflecting an impressive growth of 60 per cent compared to last year,” said Vimal Kejriwal, Managing Director and CEO, KEC International Ltd.
KEC International Ltd reported a net profit of ₹87.6 crore for the quarter ended June, more than double the ₹42 crore profit in the same period last year. Its revenue grew 6.3% year-on-year to ₹4,512 crore.
Shares of KEC International were trading 3.64 per cent higher at ₹870.60 on the BSE around 10.27 am.
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