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.
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Market Update for September 22, 2023
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