KEC International secures order worth Rs 1,566 crore

KEC International on Thursday said that it has secured a Rs 1,566 crore order across its various businesses.

The order sparked a rally in the stock during early trade as the shares rose as much as 2.64 per cent to hit an intraday high of Rs 606.10 per share.

The company secured orders for transmission and distribution, civil operations, oil and gas pipelines, and cable supplies in India and America.

KEC International is a global infrastructure engineering, procurement, and construction (EPC) company. It has worked in the verticals of power transmission and distribution, railways, civil and urban infrastructure, solar, oil and gas pipelines, and cables.

KEC was awarded for transmission and distribution in both countries for the 400/220 kV transmission lines and the 220/132 kV air-insulated switchgear and gas-insulated switchgear substations. This also included the supply of towers, hardware, cables, and poles.

The mandate also required the company to work in the commercial baking segment.

KEC MD and CEO Vimal Kejriwal said, "We are happy with the new order wins, especially the significant orders in the T&D business. The momentum in our tower supply orders, especially in North America, is indicative of the growing demand for our product offerings in the region. Our civil business has further expanded its presence in the commercial building segment with an order from a reputed real estate developer for a hybrid high-rise structure. The Oil & Gas Pipeline business has strengthened its order book by securing its second order for composite station works.”

As of 2:41 pm, shares of the company were trading 0.25 per cent lower at Rs 589.10 per share.