KEC International shares zoom 7% after securing Rs 1,704 crore turnkey orders from Power Grid

KEC International shares surged 7% to their day’s high of Rs 1,094.95 on the BSE on Thursday after the firm secured turnkey orders worth Rs 1,704 crore from Power Grid Corporation of India in its Transmission & Distribution (T&D) business.

The projects include the design, supply, and installation of 765 kV transmission lines and GIS substations, further bolstering KEC’s leadership in the T&D sector.

"The company has secured prestigious turnkey orders of Rs 1,704 crores in its Transmission & Distribution (T&D) business for the Design, Supply and Installation of 765 kV Transmission Lines and GIS substations from Power Grid Corporation of India Limited (PGCIL)," the company said in an exchange filing.


Vimal Kejriwal, MD and CEO of KEC International said, "We are delighted with the continuous inflow of orders, especially in our T&D business. These 765 kV orders from PGCIL have further strengthened our India T&D order book, reaffirming our confidence in the continued strong growth of this business. With these orders, our YTD order intake now stands at Rs 16,300 crores, reflecting an impressive growth of over 60% compared to last year."

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This week, KEC International also secured new orders worth Rs 1,114 crore across its transmission & distribution (T&D), civil, railways, and cables segments.

The T&D business received orders for a 400 kV transmission line project in Oman and the supply of towers, hardware, and poles in the Americas. The civil division won contracts in the industrial segment within India.

In the railways segment, the company secured a contract for Metro Overhead Electrification (OHE) works in India, leveraging advanced technology. Additionally, the cable business obtained orders to supply various cable types to clients in India and overseas.

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On Wednesday, KEC International shares closed at Rs 1,023.4, down 0.03% on the BSE, while the benchmark Sensex surged 0.29%. Its shares have rallied 70% in 2024 to date and 145% over the past two years, with the company currently holding a market capitalization of Rs 27,244 crore.

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