KEC International shares jump on new orders worth Rs 1,065 crore

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Infrastructure engineering, procurement and construction (EPC) major KEC International on Friday said it has bagged new orders worth Rs 1,065 crore across various businesses.

Its Transmission & Distribution (T&D) business has secured orders for projects in India, the Middle East, Africa, and Americas.

While the railways business has secured an order for construction of railway siding in the conventional segment in India, the civil business bagged an order for infra works in the water pipeline segment in the country.

The oil & gas pipelines business has secured an order for laying of oil and gas pipeline, through the company’s wholly-owned subsidiary, Spur Infrastructure Pvt Ltd, it said in a statement.

The cable business has bagged orders for various types of cables in India and overseas. "Our order book continues to grow on the backdrop of orders secured across all our business verticals. The continuous orders in T&D have significantly enhanced our order book, especially in the international markets".

"We are particularly enthused by the order in Railways, which further consolidates our leadership in the conventional Railway segment. The order in Civil has strengthened our presence in the growing water infra segment. With these orders, our YTD order intake stands at Rs 11,000 crore," said Vimal Kejriwal, MD & CEO, KEC International.

The company is currently executing infrastructure projects in 30+ countries and has a footprint in 105+ countries (includes EPC, supply of towers and cables). It is the flagship company of the RPG Group.

And add in the end: Shares of the company jumped more than 4 percent to Rs 449.65 in trade on December 3 on the back of the update. At 12:35 hours, the stock was up 2.1 percent at Rs 440.80 on the BSE.