KEC Int'l spikes 10% on new orders worth Rs 1511cr

KEC International , an RPG group company, gained more than 10 percent intraday on Wedndesday as the company has received orders worth Rs 1,511 crore in its transmission, power systems and cable businesses from India, Oman, Nepal and Latin America.

KEC has secured two orders worth Rs 286 crore and 386 crore from Power Grid Corporation. Rs 602 crore order for design, supply and erection of 400 KV transmission line from Sur to Izki grid station on turnkey basis is secured from Bhawan Engineering Company LLC in Oman.

Rs 131 crore order is from Upper Tamakoshi Hydropower in Nepal. SAE Towers, the wholly owned subsidiary of KEC, has received orders worth Rs 63 crore for supply of lattice towers and poles to Brazil, Mexico and United States.

At 13:29 hours IST, the stock rose 7 percent to Rs 72.20 amid large volumes on the Bombay Stock Exchange.

Trading volumes increased quite significantly to 5,07,277 equity shares as compared to its five-day average of 28,990 shares.

Market capitalisation of the company currently stands at Rs 1,856.18 crore.

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