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Synopsis : KEC International's shares rose 6.5% to Rs 742.80 after winning Rs 1,002 crore in civil business orders, boosting its market cap to Rs 18,498 crore. The stock has increased by 19% in 2024 and 35.78% over the past year. KEC's recent wins bring its FY24 order intake to Rs 18,102 crore, highlighting significant growth in its civil business.
Shares of KEC International Ltd rose by 6.5% to Rs 742.80 on the BSE, following the announcement of securing orders worth Rs 1,002 crore for its civil business. This gain pushed the company's market cap to Rs 18,498 crore. The orders include residential projects in northern and southern India and the construction of residences for senior defense officials. The stock has gained 19% in 2024 and 35.78% over the past year, with a low volatility beta of 0.5.
KEC International’s technical indicators show that it is trading below its short-term moving averages but above its longer-term ones. The company's RSI stands at 37.1, indicating it is neither overbought nor oversold. The stock hit a 52-week low of Rs 523.40 on June 7, 2023.
Vimal Kejriwal, MD & CEO, expressed satisfaction with the new orders, highlighting the civil business's expansion and the broadening of its customer base. With these recent wins, the total order intake for FY24 has reached Rs 18,102 crore.
KEC International is a leading global infrastructure EPC company, operating in power transmission, railways, civil construction, urban infrastructure, solar, oil & gas pipelines, and cables. The company is executing projects in over 30 countries and has a presence in more than 110 countries. It is the flagship entity of the RPG Group.
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