KEC International Shares Jump After Bagging Rs.1,003 Crore Orders

26 Sep 2024 CW Team

Shares of KEC International surged by 3.12% to ?972.15 on the BSE during intraday trade on Monday, following the announcement of new contracts worth Rs.10 billion. The infrastructure EPC major, a part of the RPG Group, disclosed that the orders span across railways, civil, and cables.

In the railways segment, KEC secured a Tunnel Ventilation system project in India, while the civil division received a contract for mechanical and civil works in an Indian steel plant. The cables division obtained orders for supplying cables domestically and overseas.

CEO Vimal Kejriwal highlighted the company's growth, with its year-to-date (YTD) order intake exceeding ?123 billion, a 60% rise compared to last year. Despite these wins, KEC recently faced a credit rating downgrade by Care Ratings due to concerns about working capital management.

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