Shares of KEC International touched an intraday high of over 5 percent on the BSE, a day after the company said it bagged new orders worth Rs 1,407 crore across its various businesses.

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Following the news, shares of KEC International opened with a gain of 4.4 percent and touched Rs 469 in intra-day trade, going 5.03 percent up from the previous close on the BSE.

Shares of KEC International are now down from the high and are trading at Rs 445, down by 0.1 percent from the previous close on the BSE.

The company's Transmission & Distribution (T&D) business has secured orders for T&D projects in the Middle East. The orders include a 400 kV transmission line for part of the Kuwait - Saudi Arabia interconnection project and 380 kV transmission line in Saudi Arabia. While the civil business received an order to construct official quarters and associated facilities for senior government officials in India, KEC International said in a regulatory filing.

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KEC International’s railway business has bagged an order for signalling and telecommunication works of train collision avoidance system (TCAS) under 'Kavach' in the consortium in India.

The cables business has secured orders for various types of cables in India and overseas.

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“We are pleased with the continuous order inflows across businesses. Our YTD order intake now stands at Rs 8,400 crore, with robust growth of 50 percent vis-vis last year,” said Vimal Kejriwal, MD & CEO of KEC International.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has a presence in the verticals of power transmission and distribution, railways, civil, urban infrastructure, solar, smart infrastructure, oil & gas pipelines, and cables.

For the April-June quarter, KEC International's consolidated net profit declined 32.8 percent and stood at Rs 31.02 crore as compared to the corresponding period a year ago.

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First Published:Oct 4, 2022 2:06 PM IST