KEC International shares in focus after securing orders worth Rs 2,211 crore
KEC International is a global EPC company operating in Power T&D, Civil, Transportation, Renewables, Oil & Gas Pipelines, and Cables.
Synopsis KEC International, the RPG Group's infrastructure arm, secured fresh orders worth Rs 2,211 crore across multiple segments, including Transmission & Distribution, Oil & Gas Pipelines, and Cables. With a strong international order book and a 40% year-to-date growth in orders, analysts maintain a 'Buy' rating with a target price of Rs 972, indicating 10% upside from current levels. Shares of KEC International, the RPG Group's infrastructure arm, will be in focus on Thursday after the company announced fresh orders worth Rs 2,211 crore across multiple business segments.
ADVERTISEMENT According to the company, the Transmission & Distribution (T&D) segment has bagged key orders in the Middle East and the Americas. These include the design, supply, and installation of 380 kV overhead transmission lines in Saudi Arabia, along with the supply of towers, hardware, and poles in the Americas.
The Oil & Gas Pipelines business has received its second international order for terminal station works in Africa, supplementing its ongoing pipeline-laying project in the region.
Meanwhile, the Cables business secured orders for the supply of various types of cables in India and overseas."The large order wins in Saudi Arabia have further strengthened our international T&D order book. These wins reaffirm the Middle East and North Africa (MENA) region's strategic importance as a key growth driver for us."Our subsidiary, SAE Towers, has secured a significant tower supply order in Mexico, reflecting an uptick in the North American T&D market. With these orders, our YTD order intake stands at over Rs 4,200 crores, a robust growth of 40 per cent vis-a-vis last year," Vimal Kejriwal, MD & CEO, KEC International, said.
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KEC International is a global EPC (Engineering, Procurement, and Construction) company with operations in Power T&D, Civil, Transportation, Renewables, Oil & Gas Pipelines, and Cables. It operates in over 110 countries, including through the supply of towers and cables. It is the flagship company of the RPG Group.
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As per Trendlyne data, the average target price of the stock is Rs 972, which shows an upside of 10% from the current market prices. The consensus recommendation from 24 analysts for the stock is a 'Buy'.
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On Wednesday, KEC International shares closed at Rs 880.4, up 1.2% on the BSE, while the benchmark Sensex surged 0.32%. The stock has declined 27% year-to-date but gained 26% in the last three months. The company's market capitalisation stands at Rs 23,437 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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