Investors lapped up shares of KEC International on Wednesday after the infrastructure EPC major received new orders worth Rs 1,029 crore in its transmission and distribution, cables, and renewable businesses. The stock gained as much as 5 percent intraday. In transmission and distribution segment, the company has secured orders worth Rs 746 crore from Power Grid in India, Zesco in Zambia and SAE Towers in America. "In cable business, the company received orders for the supply of power and telecom cables. The total value of these orders is Rs 273 crore," said the company in its filing to BSE, adding it has secured order worth Rs 10 crore in solar space. In an interview to CNBC-TV18, Ramesh Chandak, Managing Director and CEO said the current order book of the company is Rs 9,600-10,000 crore. At 10:44 hours IST, the stock was quoting at Rs 104.15, up Rs 2.35, or 2.31 percent on the BSE.
Wednesday 8 October 2014
KEC Int up 5% on new orders in T&D, cable, solar businesses
Investors lapped up shares of KEC International on Wednesday after the infrastructure EPC major received new orders worth Rs 1,029 crore in its transmission and distribution, cables, and renewable businesses. The stock gained as much as 5 percent intraday. In transmission and distribution segment, the company has secured orders worth Rs 746 crore from Power Grid in India, Zesco in Zambia and SAE Towers in America. "In cable business, the company received orders for the supply of power and telecom cables. The total value of these orders is Rs 273 crore," said the company in its filing to BSE, adding it has secured order worth Rs 10 crore in solar space. In an interview to CNBC-TV18, Ramesh Chandak, Managing Director and CEO said the current order book of the company is Rs 9,600-10,000 crore. At 10:44 hours IST, the stock was quoting at Rs 104.15, up Rs 2.35, or 2.31 percent on the BSE.
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