KEC International takes multiple orders, stock skyrockets over 4%

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At 1:15 p.m., KEC International shares were trading down 1% at Rs 450 on BSE

Shares of KEC International climbed more than 4 percent in early trading after the engineering, procurement and construction verticals won several orders in India and abroad. “KEC International, a major global infrastructure EPC, an RPG group company, has secured new orders of Rs 1,157 crore in its various businesses,” the company said in a regulatory filing filed with the stock exchanges.

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“Orders in T&D, particularly in the Middle East region, will allow us to further strengthen our presence in international markets. Our rail order book continues to grow in emerging / new areas with orders in the semi-high speed train as part of the ‘Raftaar’ mission, “said Vimal Kejriwal, Managing Director and CEO of KEC International.

KEC International’s transmission and distribution (T&D) activity recorded orders of Rs 663 crore for projects in the Middle East, Africa and America; and the railway sector secured orders of Rs 220 crore for 2 x 25 kV (OHE) overhead electrification for speed improvement in India.

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The civil activity of the company has secured an order of Rs 173 crore for the construction of a new airport terminal in South India and the cables activity has won orders worth Rs 101 crore for cables on the Indian and foreign market.

KEC International is one of the world’s largest power transmission engineering, procurement and construction companies, and one of the leading manufacturers of electric power transmission towers in the country.

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By 1:15 pm, KEC International had forfeited all of its gains and was trading down 1% to Rs 450. BSE Sensex and NSE Nifty were trading with gains of 0.22% at the time.

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