Power Stock Wins Orders Worth 1171 Cr In Middle East, Shares Jump 124% In 2-Yrs

Mid cap company from the power sector, KEC International shares zoomed today over 7% after it informed of winning new T&D orders of Rs 1171 crore in Middle East. Current market price of KEC International shares on BSE is Rs 917.65 apiece. KEC International shares offered return of 36% and gained 124% in last 2-years. The company's market capitalisation stood at Rs 23,591.71 crore. Check details below:

KEC International Bags New Orders: As per the exchange filing of KEC International issued on August 29, 2024, "KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders in its Transmission and Distribution (T&D) business:

• 400 kV Transmission line in the United Arab Emirates (UAE)

• 380 kV Transmission line in Saudi Arabia

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, "We are delighted with the ongoing success in our T&D business, highlighted by a series of significant order wins. The sustained inflow of orders in the Middle East has substantially expanded our International T&D order book. With the above orders, our YTD order intake stands at ~Rs 10,000 crores, a stellar growth of 80% compared to last year. These orders, coupled with the orders announced earlier during the year, reaffirm our confidence in achieving the targeted growth going forward."

KEC International Shares Performance: The 52-week high price of KEC International shares on BSE is Rs 968.20 per share (as on 03/07/2024) and 52-week low price is Rs 551.00 per share (as on 08/11/2023), respectively. KEC International shares surged 13% in last 2-weeks, soared 26% in last 6-months, offered return of 51% year-to-date, zoomed 128% in last 3-years, and jumped 801% in last 10-years.

About KEC: KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Oil & Gas Pipelines, and Cables. The Company is currently executing infrastructure projects in 30+ countries and has a footprint in 110+ countries (includes EPC, Supply of Towers and Cables). It is the flagship Company of the RPG Group.