This Small Cap Power Sector Company Gains Close To 6% Intra-day

Shares of KEC International in trade on June 21, 2022 has surged by close to 6% to day's high price of Rs. 384.4 per share on the NSE. This is after the company has won new orders in therange of Rs. 1092 crore. Its transmission & distribution (T&D) business has secured orders for T&D projects in India, Middle East and Americas. In railways it has secured an order for 2 x 25 kV Overhead Electrification (OHE) & associated works for speed upgradation (Mission 'Raftaar') in India. In civil it has secured orders in the residential, industrial and defence segments in India, and In cables business it has secured orders for various types of cables in India and overseas.

The brokerage ICICI Direct believes the move to have a positive impact. "Orders wins in T&D have enhanced the order book in both domestic and international markets. The company's railway business has further consolidated its presence in emerging and new areas, with the order in the semi-high-speed railunder Mission Raftaar. The civil business continues to be on a high growth trajectory, with consistent order inflows across segments, especially metals and mining and reality".

KEC International, headquartered in Mumbai, India, is the flagship company of the RPG Group. A USD 1.8 billion Engineering, Procurement, and Construction (EPC) major, the company deliver projects in key infrastructure sectors such as Power Transmission & Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables.

Last the stock at the time of writing this copy pared most of its intra-day gains and quoted higher by just 1.56% at Rs. 369.15 per share on the NSE.