Rs 37,000 crore order book & FIIs increase stake: This engineering company bags new orders worth Rs 1002,00,00,000 for its civil business

The stock is up by 50 per cent from its 52-week low of Rs 523.40 per share and gave multibagger returns of over 550 per cent in a decade.

KEC International Ltd, a leading infrastructure engineering, procurement, and construction (EPC) company, secured new orders worth Rs 1,002 crore for its civil business. This win includes their largest residential project yet, consisting of building residential projects in northern and southern India for well-known developers. Additionally, KEC International was awarded a contract to construct official residences and facilities for senior Indian defence officials.

Earlier, the company secured new orders worth a total of Rs 1,036 crore across its different business sectors. The T&D (Transmission & Distribution) division secured contracts for projects in the Middle East and the Americas, including setting up overhead transmission lines in the United Arab Emirates (UAE) and supplying towers, hardware, and poles in the Americas. Their railways business segment also won an order for additional work in India's conventional sector, while the cables business secured orders for supplying various cable types domestically and internationally.

Today, shares of KEC International Ltd gained 8.83 per cent to an intraday high of Rs 784 per share from its previous closing of Rs 720.35 per share. The shares of the company saw a spurt in volume by more than 2.11 times on BSE.

Also Read: 4:1 bonus shares in FY24; Rs 2,460 crore order book & FIIs bought 3.27 per cent stake: Multibagger engineering stock under Rs 21 surges over 4 per cent!

KEC International Ltd had a market cap of over Rs 19,000 crore and has been maintaining a healthy dividend payout of 35 per cent. The company reported amazing numbers in its Quarterly Results (Q4FY24) and annual results (FY24). The company’s current order book stands at Rs 37,000 crore including the L1 orders worth Rs 7,000 crore as of March 31, 2024.

As of March 2024, FIIs have increased their stake to 12.45 per cent compared to 10.90 per cent in December 2023. The stock is up by 50 per cent from its 52-week low of Rs 523.40 per share and gave multibagger returns of over 550 per cent in a decade. Investors should keep an eye on this Mid-Cap company for upcoming trading sessions.

Disclaimer: The article is for informational purposes only and not investment advice.