INSUBCONTINENT EXCLUSIVE:
NEW DELHI: KEC International made the most of fresh order wins as the stock climbed 5 per cent on Wednesday
The company secured new orders worth of Rs 1,357 crore
The job contracts are worth of Rs 1,234 crore under transmission and distribution segment across India, the Middle East, Africa, SAARC and
The company has also bagged orders worth Rs 123 crore under cables business, it said in a filing to the BSE
The stock rose 4.87 per cent to hit a high of Rs 354 on the BSE
Yet the scrip is down 9.38 per cent year to date
The stock was trading higher than its 5- and 20-day moving averages.
Vimal Kejriwal, MD and CEO, KEC International, said: "We are delighted
with the new order wins, especially in the transmission and distribution business
We have consolidated our leadership position in the Middle East market by re-entering Dubai
With the order win in Nicaragua, KEC marks its direct entry into the American TD EPC market, apart from its current presence in Brazil
through SAE Towers, its wholly owned subsidiary."
The company has reported 51 per cent jump in consolidated net profit at Rs 460 crore in
FY18 on 15.32 per cent rise in net sales at Rs 10,096 crore.
