KEC International shares jumped almost 3% to hit an intra-day high of Rs 1,084.80 after the company won multiple orders worth Rs 1,040 crore.
“We are pleased to enclose a copy of the press release with respect to new orders of Rs 1,040
crore secured by the company. All the orders mentioned in the enclosed press release have been received in the normal course of business,” said the company in an exchange filing.
Earlier, the company bagged turnkey orders worth Rs 1,704 crore in its Transmission & Distribution (T&D) business for the Design, Supply, and Installation of 765 kV Transmission Lines and GIS Substations from Power Grid Corporation of India.
“The order in CIS has reinforced our presence in this region and further strengthened our International T&D order book. Our subsidiary, SAE Towers, has secured multiple orders across the USA, Mexico and Brazil, demonstrating an uptick in the American T&D market. With these orders, our YTD order intake now stands at over Rs. 17,300 crores, reflecting a remarkable growth of ~75% vis-à-vis last year,” said Vimal Kejriwal, MD & CEO of KEC International.
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KEC International Q2 performance
KEC International reported a 53% on year jump in net profit at Rs 85.4 crore for the second quarter of the financial year 2024-25. In the corresponding quarter of the previous fiscal, the company posted a net profit of Rs 55.8 crore. The company’s revenue from operations increased 13.7% on year to Rs 5,113.3 crore against Rs 4,499 crore in the same period of the last fiscal.
KEC International Vs Nifty 50
The stock of KEC International has risen 2.2% in the last five trading days. The stock has delivered a return of 9.4% in the last one month and 37% in the previous six months. It has risen 75% from year to date while 73% in the last one year.
To compare, the benchmark index, Nifty 50, has risen 0.74% in the last five trading days. However, the index has given a return of 0.55% in the last one month and 3.7% in the past six months. The index delivered 11% of returns from year to date and 16.6% in the past one year.
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