KEC Shares Surge As Company Wins Orders Of Rs 1,036 crore

Business

oi-Sunil Fernandes

By Sunil Fernandes

Published: Thursday, June 23, 2016, 11:43 [IST]

Shares in KEC International surged after the company won orders worth Rs 1072 crores. The Stock was last trading at Rs 139.60, a jump of 4.2 per cent over Wednesday's close.

According to a press release issued by the company, KEC International received an order of Rs 582 crores from the Abu Dhabi Transmission and Dispatch Company for supply and construction of 400 kV Transmission Line from Barakah Switchyard to Madinat Zayed Grid Substation in Abu Dhabi.

"An order of Rs.48 crore from Saudi Pan Kingdom Company for construction of diversion of Over Head Transmission Line of 380 kV and 110 kV in Saudi Arabia. Orders of Rs.36 crore across the Americas for supply of lattice towers, monopoles, substation structures and hardware," the company said in a press release.

The company also received orders worth Rs 317 crores from the Indian Railways. Vimal Kejriwal, MD & CEO, KEC International Ltd commented, " I am happy that our Railways Business has secured a large order which substantiates and reaffirms our belief in the Railways growth story. Our Transmission and Distribution Business has strengthened our leadership position in the MENA region with the Abu Dhabi order."

KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of Power Transmission and Distribution, Cables, Railways, Water and Renewables.

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