KEC International Shares Surge 8.7% on New Rs 2,518 Crore Orders
KEC International's shares witnessed a sharp rise on Thursday after the company secured new orders worth Rs 2,518 crore across its civil, transportation, and Transmission & Distribution (T&D) businesses.
New Orders Span Multiple Segments
- The company's civil business has bagged its largest-ever commercial real estate order from a prominent developer in Western India.
- KEC has made further inroads into India's railway safety ecosystem by securing a joint venture order under the 'Kavach' initiative.
- The T&D business has secured a diverse set of orders across regions, including high-voltage transmission line projects in Africa.
Key Highlights
- KEC International shares climbed 8.7% to Rs 617.5 on the BSE.
- The company has secured orders across multiple segments, reinforcing its presence in both domestic and international markets.
- The strong order pipeline has boosted investor confidence, driving the stock's rally.
Managing Director's Comments
Commenting on the development, Managing Director and CEO Vimal Kejriwal expressed optimism over the company's growth trajectory.
He highlighted the civil business milestone as a significant achievement and noted the transportation segment's expanding footprint in the TCAS space.
Technical Analysis
Trendlyne data shows the 14-day RSI at 54.1, indicating a neutral trend.
KEC International is trading below 4 of its 8 simple moving averages, including key medium- to long-term indicators such as the 50-day to 200-day SMAs.
Disclaimer
The recommendations, suggestions, views, and opinions given by the experts are their own and do not represent the views of The Economic Times.
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