Rs 42,500 crore order book: Multibagger Power Transmission Stock Jumps 19.5 Per Cent & Hit 52-Week With Heavy Volume
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 586 per share and a whopping 1,100 per cent in a decade.
On Wednesday, shares of KEC International Ltd gained 19.5 per cent and made a new 52-week high of Rs 1,312 per share from its previous closing of Rs 1,098.30 per share. At the closing bell, shares of the company were trading at Rs 1,250.65 per share, up 13.87 per cent with a spurt in volume by more than 4.15 times.
KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has a presence in the verticals of power transmission and distribution, railways, civil & urban infrastructure, solar, oil & gas pipelines and cables. The company is currently executing infrastructure projects in 30+ countries and has a footprint in 110+ countries (including EPC, supply of towers and cables). It is the flagship Company of the RPG Group. RPG Enterprises, established in 1979, is one of India’s fastest-growing business groups with a turnover of USD 4.8 Billion. The group has diverse business interests in the areas of infrastructure, tyres, pharma, it and speciality as well as in emerging innovation-led technology businesses.
KEC International Ltd. has significantly bolstered its order book, securing new contracts worth a combined Rs 2,744 crore in its Transmission and Distribution (T&D) business. In the international arena, the company has won orders valued at Rs 1,040 crore, encompassing the supply of towers, hardware, and poles to the Americas and the construction of 220 kV transmission lines in the CIS region. Domestically, KEC has clinched prestigious turnkey orders worth Rs 1,704 crore from Power Grid Corporation of India Limited (PGCIL) for the design, supply, and installation of 765 kV transmission lines and GIS substations.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
KEC International Ltd had a market cap of over Rs 33,000 crore and has been maintaining a healthy dividend payout of 35 per cent. The company reported amazing numbers in its Quarterly Results (Q2FY25) and annual results (FY24). The company’s current order book stands at Rs 42,500 crore including the L1 orders as of September 30, 2024. Tenders under evaluation and in the pipeline of over Rs 1,50,000 crore.
As of September 2024, FIIs & DIIs have increased their stake to 13.14 per cent and 26.73 per cent respectively compared to 12.66 per cent and 25.29 per cent in June 2024. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 586 per share and a whopping 1,100 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.