KEC International shares climb 7% on Rs 1,754 crore order win
이 뉴스, 어떠셨어요?
한 번의 탭으로 반응을 남겨요 · 로그인 불필요
KEC International shares surged nearly 7% on Tuesday after the infrastructure EPC major announced fresh orders worth Rs 1,754 crore across its Transmission & Distribution (T&D) and Cables & Conductors businesses.Shares climbed 6.9% to Rs 527.60, buoyed by strong order inflows, including key wins in overseas markets.In a regulatory filing, KEC International, the flagship infrastructure company of the RPG Group, said it had secured new orders worth Rs 1,754 crore across multiple business segments.The T&D business bagged major contracts for supplying high-voltage transmission line towers in the Americas.
Meanwhile, the Cables & Conductors division secured several domestic and international orders, further bolstering the company's order book.Largest-ever Tower Supply Order from the USCommenting on the development, Vimal Kejriwal, Managing Director and CEO of KEC International, said the company is particularly encouraged by the momentum in its tower supply business.He said repeat orders from customers across the Americas, including KEC's largest-ever tower supply order from the US, underscore strong demand in the region's power transmission sector and reaffirm the company's strategic focus on expanding its global tower supply business.With these wins, KEC's year-to-date (YTD) order intake has crossed Rs 4,000 crore, providing strong revenue visibility for the coming quarters.About KEC InternationalKEC International is a global engineering, procurement and construction (EPC) company with businesses spanning power transmission and distribution, civil construction, transportation, renewables, oil and gas pipelines, and cables and conductors.
It operates in more than 110 countries through EPC projects and the supply of towers and cables, making it one of India's leading infrastructure exporters.Stock Performance and Technical OutlookDespite Tuesday's rally, KEC International shares remain well below their 52-week high of Rs 947.
At current levels, the company has a market capitalisation of about Rs 13,720 crore.Technically, the stock presents a mixed picture.
Its 14-day Relative Strength Index (RSI) stands at 47.6, indicating neutral momentum.
An RSI below 30 signals oversold conditions, while a reading above 70 suggests overbought territory.The moving averages, however, continue to warrant caution.
The stock trades below six of its eight key simple moving averages (SMAs) and is above only the 20-day and 30-day SMAs, indicating that the broader trend remains weak despite the recent rebound.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of The Economic Times) ...