KEC International Shares Hit 52-Week High on New Orders
KEC International shares hit a 52-week high of Rs 739 in the early trade on September 12 after the company secured new orders of Rs 1,012 crore across its various businesses.
The Civil business of the company secured orders from new clients in the data center and FMCG segments, for building a data center in Western India and setting up of a manufacturing facility for a global FMCG major in Southern India. The Transmission & Distribution (T&D) business of the company has secured orders for T&D projects in India and the Americas, including a 765-kV transmission line order in India from an existing private client and supply of towers, hardware, and poles in the Americas.
The Cables business of the company has secured orders for the supply of various types of cables in India and overseas.
The new orders are a positive sign for KEC International and reflect the company’s strong order book position. The company has been consistently winning new orders in recent months, and this is likely to continue in the coming quarters.
The company’s order book stood at Rs 14,500 crore as of June 30, 2023. This is the highest order book position in the company’s history. The company’s order book is well diversified across its various businesses and geographies.
The company is well-positioned to benefit from the strong growth in the infrastructure sector in India and abroad. The company is also focusing on expanding its presence in new markets, such as the Middle East and Africa.
The recent surge in KEC International’s share price is a reflection of the positive sentiment in the market towards the company. The company’s strong order book position and its focus on new markets are likely to support the stock price in the coming quarters.
Related News
- 22 Sep
NBCC shares trade higher on Rs 100 crore work order from SAIL
NBCC shares were trading 3 percent higher on September 22 after the company announced having bagged a work order worth Rs 100 crore from SAIL. This is the fourth order-win announced by the company in this month, the total value of the same being Rs 450 crore. NBCC is a public sector undertaking engaged in the business of construction and real estate development. The company specializes in providing project management, consultancy and engineering services for civil construction, infrastructure development, and real estate projects.
- 22 Sep
Glenmark Pharma stock falls on stake sale in Glenmark Life Sciences
Glenmark Pharma stock fell after the company announced it would sell a 75% stake in its subsidiary Glenmark Life Sciences to Nirma. Analysts expect the stake sale to benefit Glenmark Pharma, as it will transition from a net debt position to a cash surplus position. This is expected to have a positive impact on the company's return ratios over the next two to three years.
- 22 Sep
Berger Paints Shares Hit 52-Week High After Turning Ex-Bonus
Berger Paints shares surged 6% to hit a 52-week high after turning ex-bonus on the record date for the issue of bonus shares in the ratio 1:5. The company posted a net profit of Rs 326.3 crore in the April-June quarter of FY24, up 39% year-on-year, on revenue of Rs 2,739.7 crore, up 10% year-on-year. The company expects to get net cash positive by the end of this fiscal year and expects to end the year with double-digit revenue growth on strong demand outlook.
- 22 Sep
Market Update for September 22, 2023
IdeaForge Tech up 3.4% on order RVNL up 3% on highway MoU JSW Steel up 0.4% on sale ICICI Lombard down 1.6% on CEO exit ICICI Bank down 1% on healthcare investment NHPC up 1.3% on extended additional charge Kalyani Forge up 3.2% on new MD IRB Infra up 2.5% on road project closure
- 22 Sep
Lux Industries Shares Down 3% After Income Tax Raid
Lux Industries shares fell 3% on September 22 after news emerged that the Income Tax department had conducted searches at the company's premises in Kolkata and alleged a tax evasion of Rs 200 crore. The company has confirmed the searches and is extending full support.
Leave a Reply