KEC International shares in focus after securing orders worth ₹2,211 crore
Shares of
KEC International
, the
RPG Group
's infrastructure arm, will be in focus on Thursday after the company announced fresh orders worth ₹2,211 crore across multiple business segments.
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 ₹4,200 crores, a robust growth of 40 per cent vis-a-vis last year," Vimal Kejriwal, MD & CEO, KEC International, said.
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.
KEC International shares target price
As per Trendlyne data, the average target price of the stock is ₹972, which shows an upside of 10 per cent from the current market prices. The consensus recommendation from 24 analysts for the stock is a 'Buy'.
KEC International shares performance
On Wednesday, KEC International shares closed at ₹880.4, up 1.2 per cent on the BSE, while the benchmark Sensex surged 0.32 per cent . The stock has declined 27 per cent year-to-date but gained 26 per cent in the last three months. The company's market capitalisation stands at ₹23,437 crore.
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