KEC International shares soared more than 4 per cent in early trading after the engineering, procurement and construction major's business verticals bagged multiple orders both in India and overseas. "KEC International, a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs 1,157 crores across its various businesses," the company said in a regulatory filing to the stock exchanges.
"The orders in T&D, especially in the Middle East region will enable us to further strengthen our presence in the international markets. Our Railway order book continues to grow in emerging/new areas with orders in the semi high-speed rail under mission 'Raftaar.'" Vimal Kejriwal, MD & CEO, KEC International said.
KEC International's transmission & distribution (T&D) business bagged orders of Rs 663 crore for projects in the Middle East, Africa and Americas; and the railways business secured orders of Rs 220 crore for 2 x 25 kV overhead electrification (OHE) for speed upgradation in India.
The company's civil business secured a Rs 173 crore order for constructing a new airport terminal building in South India and the cables business won orders worth Rs 101 crore for cables in the Indian and overseas market.
KEC International is one of the largest power transmission engineering, procurement and construction companies in the world, and a leading manufacturer of electric power transmission towers in the country.
At 1:15 pm, KEC International had given up all their gains and were trading lower by 1 per cent at Rs 450. The BSE Sensex and NSE Nifty were trading with gains of 0.22 per cent at the time.