KEC Wins 1,100 Cr Rs Transmission & Distribution Order
KEC International secures Rs. 1,100 crore Transmission & Distribution order, including 765 kV projects in India,132 kV projects in UAE, tower supply in Australia, and hardware supply in the Americas.
by Damodharan N
Updated Jul 17, 2024
Table of Content
KEC International Ltd., a global infrastructure EPC major and part of the RPG Group, has secured new orders totaling Rs. 1,100 crores for Transmission & Distribution (T&D) projects across multiple regions. The orders include:
- 765 kV Transmission line and GIS Substation projects in India from Power Grid Corporation of India Limited (PGCIL)
- 132 kV Transmission line project in the United Arab Emirates (UAE)
- Tower supply projects in Australia and the Americas
- Supply of Hardware and Poles in the Americas
Mr. Vimal Kejriwal, MD & CEO of KEC International Ltd., expressed satisfaction with the continuous inflow of orders, particularly highlighting the substantial boost to their India T&D order book from the PGCIL contracts.
He emphasized the strategic significance of securing consecutive orders in the UAE, reinforcing their leadership in the Middle East market. The significant tower supply contract in Australia marks a pivotal expansion into a new market segment, contributing to KEC's robust growth trajectory with the year-to-date order intake exceeding Rs. 6,000 crores, reflecting an impressive growth of over 80% compared to the previous year.
Get the Full Announcement Here
Market Reaction
KEC International's stock (Series EQ) opened at Rs. 887.00 and reached a high of Rs. 899.70 during the trading session. The low for the day was Rs. 882.00, and the previous day's close was Rs. 886.15.
The last traded price (LTP) was recorded at Rs. 884.10, with the closing price settling at Rs. 887.55. The Volume traded was 2,69,460 shares, valued at approximately Rs. 240,086,354.50, across 19,990 trades.
The market reaction indicates initial optimism with the stock reaching its intraday high shortly after the announcement of securing new Transmission & Distribution (T&D) orders worth Rs. 1,100 crores.
However, the stock price moderated later in the day, closing slightly above the previous day's close. This fluctuation suggests a mixed response from investors, possibly influenced by broader market conditions and profit-taking activities after the initial price surge.
Get the Share Price of the company Here
KEC International
KEC International Limited, headquartered in Mumbai and part of the RPG Group, is a leading global Engineering, Procurement, and Construction (EPC) company with a revenue of USD 2.4 billion.
Specializing in sectors like Power Transmission & Distribution, Railways, Civil Engineering, Urban Infrastructure, Renewable Energy, Oil & Gas Pipelines, and Cables, KEC operates across 30+ countries and serves clients in over 110 countries.
With a strong focus on quality, safety, and sustainability, KEC leverages its extensive manufacturing capabilities and robust project management to deliver complex infrastructure projects worldwide, reflecting over 75 years of industry expertise and commitment to excellence.
KEC Wins 1,100 Cr Rs Transmission & Distribution Order - FAQs
1. What is the value of the Transmission & Distribution (T&D) order secured by KEC International?
KEC International has secured new T&D orders totaling Rs. 1,100 crores.
2. Which regions are included in KEC International's recent T&D projects?
The projects cover India, the United Arab Emirates (UAE), Australia, and the Americas.
3. What specific projects are part of KEC International's T&D order in India?
The order includes 765 kV Transmission line and GIS Substation projects from Power Grid Corporation of India Limited (PGCIL).
4. What is the significance of the 132 kV project in the UAE for KEC International?
It marks a strategic move to strengthen KEC's presence and leadership in the Middle East T&D market.
5. What new market segment is KEC International entering with the tower supply contract in Australia?
KEC is expanding into tower supply, marking a significant growth opportunity in the Australian market.
6. In which sector does KEC International supply hardware and poles in the Americas?
They supply hardware and poles in the Americas within their Transmission & Distribution projects.
7. How has the market reacted to KEC International's announcement of the new T&D orders?
Initially, there was optimism with a rise in stock price, though it moderated later in the day.
8. What is the year-to-date (YTD) order intake growth percentage reported by KEC International?
KEC has reported an impressive YTD order intake growth of over 80% compared to the previous year.
9. What are the key sectors in which KEC International operates globally?
KEC operates in sectors such as Power Transmission & Distribution, Railways, Civil Engineering, and Renewable Energy, among others.
10. How many countries does KEC International serve through its operations and projects?
KEC serves clients in over 110 countries and operates in more than 30 countries globally.