5
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 Americas.
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.
