KEC International Ltd., a global infrastructure EPC major and RPG Group Company, has seen its stock price surge following the announcement of securing new orders worth Rs. 1,012 crores (Rs 1 crore = $120,594) across various business segments. The company's share price opened over 5% higher at Rs.698.05 and rose further by 11.5% to hit a new 52-week high at Rs.739 ($1 = Rs 82.92) on Wednesday.
The civil business division of the company has secured significant orders from new clients in the Data center and FMCG sectors in India. These include the construction of a Data center in Western India and setting up a manufacturing facility for a global FMCG major in Southern India.
The Transmission & Distribution (T&D) business segment has also secured orders for T&D projects in India and the Americas. This includes a 765 kV Transmission line order in India from an existing private client and supply of towers, hardware, and poles in the Americas.
KEC's Cables business has gained orders for supplying various types of cables both in India and overseas markets.
"We are pleased with the continuous inflow of orders, especially in our T&D and Civil businesses," said Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. He added that the civil business continues to diversify its customer base with the addition of marquee clients, and they are particularly encouraged by the continuous inflow of tower supply orders from the North American market.
"With the above orders, our YTD order intake stands at a record level of over Rs. 6,500 crores, a strong growth of 11% vis-à-vis last year," Kejriwal further noted.
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