KEC International share price jumps over 5% after receipt of ₹1,236 crore fresh order
KEC International share price jumped over 5 per cent in Wednesday's trading session after the company bagged ₹ 1,236 crore fresh order in its Civil business.
KEC International shares opened at ₹ 909.55 per share on June 25, as compared to ₹ 888.70. The stock climbed over 4.93 per cent touching an intraday high to ₹ 933.95 apiece.
The EPC company stock has remained volatile amid weak market sentiments. KEC International shares have fallen over 21 per cent in six months, however, has ascended nearly 8 per cent in a month.
In a press release dated June 25, KEC International announced that it has secured new orders of ₹ 1,236 crores for Civil projects in India, which is said to be largest order in the Buildings & Factories segment.
The company bagged an order for high-rise Residential projects in Western India from renowned real estate developers, involving the development of over 50 lacs square feet of residential buildings along with associated facilities.
'We are delighted with the premium orders secured in our Civil business, including our largest order in the Buildings & Factories (B&F) segment. This marks a key milestone in our strategic foray into the premium high-rise residential segment, with buildings reaching up to G+70 storeys. These wins have significantly strengthened our Civil order book, particularly in the B&F segment and expanded our presence with the addition of two prestigious clients. With these orders, KEC is now constructing over 70 high-rise buildings for marquee clients across the country. Our YTD order intake has surpassed Rs. 5,500 crores, a healthy growth of ~35% vis-à-vis last year," said Vimal Kejriwal, MD & CEO, KEC International Ltd. in the release.
KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has a presence in the verticals of Power Transmission & Distribution, Civil, Transportation, Renewables, Oil & Gas Pipelines, and Cables. It has a footprint in 110+ countries (includes EPC, Supply of Towers and Cables).
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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