The T&D business received orders for a 400 kV transmission line project in Oman and the supply of towers, hardware, and poles in the Americas. The civil division won contracts in the industrial segment within India.
In the railways segment, the company secured a contract for Metro Overhead Electrification (OHE) works in India, leveraging advanced technology. Additionally, the cable business obtained orders to supply various cable types to clients in India and overseas.
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Vimal Kejriwal, MD and CEO of KEC International said, “We are pleased with the various orders secured across our business verticals. The order in Oman along with the previous orders from Saudi Arabia and UAE, has further strengthened our leadership position in the Middle East.“Our Civil business has diversified its customer base with the addition of reputed clients in the industrial segment. We are particularly encouraged by the railway order in the technologically enabled segment of metros, which is a key focus area for us. With these new orders, our YTD order intake stands at Rs 14,600 crore, reflecting a healthy growth of 50% compared to last year.”
KEC International is a global infrastructure Engineering, Procurement, and Construction (EPC) major and the flagship company of the RPG Group. RPG Enterprises, established in 1979, has diverse business interests in the areas of infrastructure, tyres, pharma, IT, and specialty as well as in emerging innovation-led technology businesses.
As per Trendlyne data, the average target price of the stock is Rs 1,012, which indicates a downside of 3% from the current market prices. The consensus recommendation from 24 analysts for the stock is a ‘Buy’.
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On Monday, KEC International’s shares closed at Rs 1,040.9, up 4.2% on the BSE, while the benchmark Sensex surged 1.25%. Its shares have surged 72% in 2024 to date and 150% over the past two years, with the company currently holding a market capitalization of Rs 27,710 crore.
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