Rs 38,000 crore order book & FIIs increase stake: This engineering company bags new orders worth Rs 1036,00,00,000 from domestic & international clients

The stock is up by 70 per cent from its 52-week low of Rs 458.75 per share and gave multibagger returns of over 800 per cent in a decade.

KEC International Ltd, a leading infrastructure EPC company belonging to the RPG Group, has 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.

Earlier, the company secured new orders worth Rs 816 crore across its civil, transmission & distribution, and cables businesses. The civil division will build infrastructure projects in India, including steel, cement, and carbon derivative plants, while the T&D business won a tower supply order in the US, and the cables business received orders for various cables for domestic and international delivery.

On Tuesday, shares of KEC International Ltd gained 6.46 per cent to an intraday high of Rs 778.60 per share from its previous closing of Rs 731.35 per share. The shares of the company saw a spurt in volume by more than 3.38 times on BSE.

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KEC International Ltd had a market cap of over Rs 19,000 crore and has been maintaining a healthy dividend payout of 31 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 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 70 per cent from its 52-week low of Rs 458.75 per share and gave multibagger returns of over 800 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.