KEC International shares edge higher after Rs 1,025-crore order

The business has secured an order for infrastructure works in the metals and mining segment in India. From oil and gas pipelines, the business has secured an order for laying of a slurry pipeline and associated works in India and has secured an order as Master System Integrator (MSI) for Smart City Components for three smart cities in India and for various types of cables in India and overseas.

The stock was trading at Rs 471.50, up Rs 10.10, or 2.19 percent, at 10:30am. It has touched an intraday high of Rs 482.15 and an intraday low of Rs 465.50.

The scrip was trading with volumes of 20,003 shares, compared to its five day average of 10,162 shares, an increase of 96.84 percent.

"Our order book continues to grow on the backdrop of orders secured across all our business verticals. With these orders, our YTD order intake surpasses Rs 13,000 crore, with a staggering growth of two times vis-à-vis last year. We are pleased with the orders in T&D, especially the TBCB order, which strengthens our order book in the domestic T&D market and diversifies our clientele. The railway business further consolidates its presence in emerging/new areas, with the order in the semi high-speed rail under Mission Raftaar," said Vimal Kejriwal, MD and CEO, KEC International.

"The large orders in civil and oil and gas pipelines reaffirm our confidence in the strong growth of these businesses going forward. We are also enthused by the prestigious order in smart infra to develop three smart cities in India," he said.