KEC International surges 7% on Orders Win worth Rs.2,035 Crore

The company’s railways business secured three composite orders aggregating to Rs 1,769 crore for tripling of railway lines, including laying of tracks, civil engineering, electrification, signalling and telecommunication works, in North and East India. Vimal Kejriwal, MD & CEO, KEC International said, “We are delighted with the new orders received, especially from Railways.”

MUMBAI: Shares of KEC International added 7 percent in the early trade on Wednesday on orders win worth Rs 2,035 crore across its businesses.

The company’s railways business secured three composite orders aggregating to Rs 1,769 crore for tripling of railway lines, including laying of tracks, civil engineering, electrification, signalling and telecommunication works, in North and East India.

The T&D business has secured an order of Rs 161 crore for turnkey construction of 132 kV and 220 kV Transmission Lines in West Bengal.

Its civil Business has secured an order of Rs 30 crore for the construction of residential buildings and workshop for a Metals &Mining company.

At 09:39 hrs KEC International was quoting at Rs 362.50, up Rs 14.65, or 4.21 percent on the BSE.

The cables business has received orders of Rs 63 crore for various types of cables and solar business has received orders of Rs 12 crore for the construction of rooftop and ground-mount PV Systems.

 

Vimal Kejriwal, MD & CEO, KEC International said, “We are delighted with the new orders received, especially from Railways.”

“The increased capital outlays for capacity creation in railways announced in the 2018 Union Budget augurs well for the business and we see it as a major growth driver in the coming years.”

“These new orders and a strong L1 pipeline gives us confidence to achieve our growth targets,” he added.

The company’s Q3FY18 net profit grew 78.6% to Rs 111.7 crore against Rs 62.6 crore in the same quarter last year.

KEC team at the CRS inspection of the Jind-Narwana Railway electrification project.
Facebooktwittergoogle_plusredditpinterestlinkedinmail