Rs 37,000 crore order book & FIIs increase stake: This cable company bags new orders worth Rs 1422,00,00,000 from PGCIL & USA
The stock is up by 63.3 per cent from its 52-week low of Rs 551 per share and gave multibagger returns of 575 per cent in a decade.
KEC International Ltd, a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs 1,422 crore for Transmission & Distribution (T&D) projects in India and the Americas:
• 765 kV and 400 kV Transmission line orders in India, from Power Grid Corporation of India Limited (PGCIL)
• Supply of Substation structures in the United States of America (USA)
Earlier, the company secured new orders worth Rs 1,100 crore for Transmission & Distribution (T&D) projects in various regions. These projects include 765 kV transmission lines and substations in India from Power Grid Corporation of India Limited (PGCIL), a 132 kV transmission line in the United Arab Emirates, supply of towers in Australia and the Americas, and supply of hardware and poles in the Americas. This signifies a positive development for KEC's T&D business and strengthens its presence in these markets.
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Today, shares of KEC International Ltd gained 2.23 per cent to Rs 899.75 per share from its previous closing of Rs 880.10 per share. The stock’s 52-week high is Rs 968.20 while its 52-week low is Rs 551.
KEC International Ltd had a market cap of over Rs 22,000 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 June 2024, FIIs have increased their stake to 12.66 per cent compared to 12.45 per cent in March 2024. The stock is up by 63.3 per cent from its 52-week low of Rs 551 per share and gave multibagger returns of 575 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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