The shares of KEC International jumped over 5% in the early deals on August 29 after the infra company has bagged new orders of Transmission and Distribution (T&D) worth ₹1,171 crore in the Middle East.
Other new orders include a 400-kV transmission line project in the UAE, while the other one is a 380-kV transmission line in Saudi Arabia, adding to further strengthening the international portfolio of the company.
At 09:21 am, the shares of the firm were exchanging at ₹916.80, up by 5.71% on the BSE.
Commenting on the importance of these orders towards growth, Vimal Kejriwal, MD & CEO, KEC International said, “Our year-to-date order intake is now at around ₹10,000 crore, up 80% over the same period last year with these latest wins. This order win comes after another recent win when KEC International secured orders worth ₹1,079 crore in its T&D and cables businesses last week. This exemplary performance is reflected in its latest quarterly results, with the company reporting a net profit of ₹87.6 crore, more than double the profit of ₹42 crore from the same quarter last year.
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Source: Moneycontrol
News Desk
