KEC International has secured orders worth Rs 1,416 crore across various business categories. The company has bagged orders from India, Bangladesh, Congo and Americas.
KEC International has moved higher over 7% to Rs 68.70 after the company said it has secured new orders worth Rs 1,416 crore spread across its various business, geographics and customers.
We realised 10 years before that growth in India was not happening to the extent that it has to happen. We increased the scope in geographies like the Middle East, Africa and Central Asia.
KEC International, which is engaged in power, railways and water projects, expects an order book of Rs 9,500 crore by the end of March, Chief Executive Ramesh Chandak told Reuters.
KEC International, a billion dollar global infrastructure EPC major, has secured an order worth Rs 340 crore for the construction of 765 kV and 400 kV transmission lines in Maharashtra and Gujarat.
KEC International has moved higher by 5% to Rs 51.40 after the company said it has secured an order worth of Rs 340 crore from Sterlite Technologies for the construction of 785 kv and 400 kv transmission lines in Maharashtra and Gujarat.
The outlook for the power transmission line EPC (engineering, procurement and construction) sector is more sanguine than other segments in the infrastructure space, as business visibility is relatively good and margin pressure is less severe.
Buoyed by the growth prospectus in the power sector in domestic as well as international markets, infrastructure engineering, procurement and construction major KEC International said it is eyeing an annual growth of 20% in revenue this year.
Shares of KEC International gained on reports that the company would use the proceeds from the sale of its land near Mumbai to reduce its overall debt.
KEC International, part of RPG group, has bagged orders worth Rs 400 crore, the company said today. The company has bagged three orders from Saudi Arabia and India on a turnkey basis.
The sector is expected to be the best performer among the infrastructure companies in June 2011 quarter. However, the market seems to have factored in the positives already.
KEC International has moved up 4% at Rs 82.05 after the company said it has won new orders worth of Rs 1,044 crore for turnkey transmission line and power systems.
Reliance Capital Trustee Company, a subsidiary of Anil Dhirubhai Ambani Group's Reliance Capital, today increased its stake in power infrastructure builder KEC International to 5.10% for over Rs 6.86 crore.
Net sales of the company were up by 14.81% at Rs 1,557.36 crore as compared to Rs 1,356.44 crore it had reported in Q4 of 2009-10, KEC International said in a filing to the Bombay Stock Exchange (BSE).
KEC International has taken several measures in the recent times to grow beyond its portfolio of power transmission, including foray into emerging segments.
KEC International has gained 5% at Rs 92.90, extending its Wednesday’s 3% rally after the company said it has bagged orders worth Rs 550 crore in India and Brazil for constructing transmission lines.
