Rs 37,000 crore order book & FIIs increase stake: This engineering company bags new solar & EPC orders worth Rs 1017,00,00,000

The stock is up by 71 per cent from its 52-week low of Rs 551 per share and gave multibagger returns of 600 per cent in a decade.

KEC International, a construction company belonging to the RPG Group, was awarded new contracts worth Rs 1,017 crore across its Transmission & Distribution (T&D) and Renewables sectors. The T&D business secured projects for an EPC project and tower supply in the Middle East, while the Renewables business won its largest-ever order in India - a 625 MWp solar photovoltaic project in Rajasthan from a subsidiary of a prominent public sector undertaking in the renewable energy generation segment.

Prior to the Rs 1,017 crore in T&D and renewables contracts, the company secured Rs 1,025 crore in its T&D and Cables sectors, including projects in India, Africa, and the Americas. They won contracts for a 765 kV substation in India, a comprehensive 225 kV project in West Africa, and supplying towers and cables in the Americas. Additionally, KEC bagged Rs 1,002 crore worth of orders in its civil business, including their largest ever residential project for developers in northern and southern India, along with a contract to construct official residences for senior Indian defence officials.

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Today, shares of KEC International Ltd gained 2.21 per cent to an intraday high of Rs 941.55 per share from its previous closing of Rs 921.55 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 24,000 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 71 per cent from its 52-week low of Rs 551 per share and gave multibagger returns of 600 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.