KEC International's share price surged more than 5 percent in early trading on August 29 following the company's announcement of winning new Transmission and Distribution (T&D) orders worth Rs 1,171 crore in the Middle East.
The orders include a 400 kV transmission line in the UAE and a 380 kV transmission line in Saudi Arabia.
At 09:21am, KEC International was quoting at Rs 916.80, up Rs 49.50, or 5.71 percent, on the BSE.
“We are delighted with the ongoing success in our T&D business, highlighted by a series of significant order wins. The sustained inflow of orders in the Middle East has substantially expanded our International T&D order book. With the above orders, our YTD order intake stands at ~ Rs 10,000 crores, a stellar growth of 80 percent compared to last year. These orders, coupled with the orders announced earlier during the year, reaffirm our confidence in achieving the targeted growth going forward," said Vimal Kejriwal, MD & CEO, KEC International.
Catch all the market action on our live blog
In recent developments, KEC International also secured new orders valued at Rs 1,079 crore last week in its T&D and cables sectors.
For the quarter ending in June, the company reported a net profit of Rs 87.6 crore, more than double the Rs 42 crore reported in the same quarter of the previous year.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
