KEC International climbs 5% after securing orders worth Rs 1,407 crore

Shares of KEC International rallied over 5 per cent in Tuesday’s trade after the infrastructure company secured new orders worth Rs 1,407 crore across segments.

The transmission and distribution segment received orders from the Middle East, while the railways business bagged an order for signalling and telecommunication works of Train Collision Avoidance System (TCAS) under ‘Kavach’ in consortium in India, the company said in a BSE filing.

Vimal Kejriwal, MD & CEO, KEC International, said, “Our YTD order intake now stands at Rs 8,400 crores, with robust growth of 50 per cent vis-à-vis last year. The orders in the Middle East consolidate our presence in the region and significantly expand our T&D order book, particularly in the international market.”

We are also enthused by the second Railway order in the TCAS segment under ‘Kavach,’ which aims to enhance safety of Indian Railways with world-class technology, Kejriwal added.

At 10:03 am, the stock was trading 2 per cent higher at Rs 257 over its previous day’s closing price of Rs 446 apiece. The stock has risen nearly 18 per cent in the last six months, while it has declined about 5 per cent year-to-date.