KEC International gains 4% on orders win worth Rs 1192 crore

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KEC International gains 4% on orders win worth Rs 1192 crore

October 13, 2016 Anand Gupta

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Shares of KEC International advanced 4 percent intraday Thursday as it has received orders worth Rs 1192 crore. The company’s transmission & distribution business has secured orders of Rs 859 crore in India, Africa and the Americas. The cable business of the company has bagged an order of Rs 105 crore.

The company’s railway business has secured an overhead electrification order of Rs 120 crore for section in the north western region. Also, the solar business has received orders of Rs 108 crore for providing turnkey EPC solutions for solar power projects with single axis tracker. Vimal Kejriwal, MD & CEO, of KEC International said, “In the T&D business, with substantial order win in India, we continue to consolidate our presence in the domestic market.

We also continue to diversify our customer base to include SEBs and developers of PPP projects,” The committee of directors will meet on October 14, to approve issuance of rated, listed, redeemable, secured, non-convertible debentures upto Rs 275 crore on private placement basis.