Midcap Engineering Company Secures Orders Worth Rs 1,007 Crore, Stock Falls 2.26%

KEC International, an engineering company, on Friday, August 18, informed that the company has received new contracts worth Rs 1,007 crore, including for the development of a multi-specialty hospital. KEC International is a midcap company having a market cap of Rs 16,041.03 Crore.

For civil business, the company has received an order for the design, engineering, procurement, and building of a multi-speciality hospital in eastern India.

The transmission and distribution division of the corporation received an order for a 380 kV overhead transmission line project in the Middle East. While its cable business received orders from both within and outside the country.

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, "We are pleased with the continuous inflow of orders, especially in our T&D and Civil businesses. In line with our strategy, the civil business has expanded its presence by securing a breakthrough order for building a Multispeciality Hospital in Eastern India. The T&D order in the Middle East region has significantly enhanced our order book in the international T&D market. With the above orders, our YTD order intake stands at a record level of over Rs. 5,500 crores, a strong growth of ~15% vis-à-vis last year."

Meanwhilw, the shares of KEC International on Friday last traded 2.26% lower at Rs. 623.95 per share with an intraday high of Rs. 649 and an intraday low of 622.

The stock surged 0.39% in the past 1 week. In 1 month, it gained 4.04%. It has given 53.91% positive return in the past 1 year. In the past 5 years, it has given 112.41% positive return.

About - KEC International Limited

KEC International Limited, headquartered in Mumbai, India, is the flagship company of the RPG Group. A USD 2.1 billion Engineering, Procurement, and Construction (EPC) major, we deliver projects in key infrastructure sectors such as Power Transmission & Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables.