KEC International announces second order win in two days, but stock ends lower

Shares of KEC Ltd. ended 0.7% lower on Tuesday, October 14, despite bagging its second order in as many days.

The company announced to the exchanges that it has bagged an international order worth ₹1,064 crore for Transmission and Distribution (T&D) projects in Saudi Arabia. KEC will design, supply and install a 380 kV transmission line.

This is the second order win announced in less than 24 hours. With this, the infrastructure company's Year-to-Date (YTD) order intake surpassed ₹15,000 crore.

Vimal Kejriwal, Managing Director and CEO, KEC said the company is pleased with the strong inflow of orders.especially in the T&D business. "The consecutive wins in Saudi Arabia, along with the earlier order wins in the Middle East have substantially bolstered our international T&D order book. The Middle East region continues to be a strategic growth driver for us as reflected in this order and the strong momentum built earlier this year.

The company on Monday, October 13, bagged fresh T&D orders in India and the Middle East worth ₹1,174 crore.

Earlier this month, the company won orders worth ₹1,102 crore across key business verticals. This includes a contract for civil and structural works of a 150 MW thermal power plant from a leading private player in India.

The transportation segment bagged new orders under the government’s Train Collision Avoidance System (TCAS) programme, also known as Kavach, aimed at enhancing rail safety.

In the transmission and distribution (T&D) segment, KEC received orders for the supply of towers, hardware and poles in the Americas and the Middle East.

Shares of KEC ended at the lowest point of the day, ending 0.7% lower at ₹852. The stock is down 3.4% in the last one month.