Rs 38,000 crore order book and FIIs & DIIs decrease stake: This multibagger engineering company bags new orders worth Rs 816,00,00,000
The stock is up by 88 per cent from its 52-week low of Rs 446.05 per share and gave multibagger returns of over 1,000 per cent in a decade.
KEC International Ltd, a major infrastructure engineering, procurement and construction (EPC) company and part of the RPG Group, has secured new orders worth Rs.816 crore across its civil and transmission & distribution (T&D) businesses, as well as its cables business.
The civil division secured orders for infrastructure projects in India, including setting up a steel plant in Northern India, a cement plant in Central India, and a plant for carbon derivatives in Eastern India. The T&D business won an order for supplying towers in the United States, while the Cables business secured orders for various types of cables to be delivered in both India and overseas locations.
Today, shares of KEC International Ltd gained 15.06 per cent to an intraday high and a fresh 52-week high of Rs 838.25 per share from its previous closing of Rs 728.55 per share. The shares of the company saw a spurt in volume by more than 21 times on BSE.
KEC International Ltd had a market cap of over Rs 21,000 crore and has been maintaining a healthy dividend payout of 31.1 per cent. The company reported amazing numbers in its Quarterly Results (Q3FY24) and nine-month results (9MFY23).
The company’s current order book stands at Rs 30,161 crore, a growth of 27 per cent YoY. Out of the total order book, 69 per cent are domestic orders and 31 per cent are international. Furthermore, the company’s order book including the L1 orders is over Rs 38,000 crore.
As of December 2023, FIIs have decreased their stake to 10.90 per cent and DIIs decreased their stake to 26.95 per cent compared to 11.25 per cent and 27.16 per cent, respectively. The stock is up by 88 per cent from its 52-week low of Rs 446.05 per share and gave multibagger returns of over 1,000 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.
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