KEC International Limited Resumption of WKTL Transmission Project

KEC International Limited (KEC) has signed project / novation agreements with Warora-Kurnool Transmission Limited (WKTL), a subsidiary of Adani Transmission Limited (ATL) for Rs. 477 crores to complete the balance work of the Transmission lines in the states of Andhra Pradesh, Maharashtra and Telangana and release of the earlier dues of this project. The execution of these transmission lines is expected to commence shortly. ATL had signed agreements with Essel Infraprojects Limited (EIL) on March 26, 2021 for acquisition of WKTL.

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, "We are pleased that work on this strategic project interconnecting the West to South is poised to restart. This project along with the current TBCB projects secured from Power Grid Corporation of India Limited (PGCIL) in the last quarter will contribute significantly towards the Revenue growth in the Domestic T&D market."

Shares of KEC INTERNATIONAL LTD. was last trading in BSE at Rs.419.25 as compared to the previous close of Rs. 414.8. The total number of shares traded during the day was 5212 in over 305 trades.

The stock hit an intraday high of Rs. 426.8 and intraday low of 412.45. The net turnover during the day was Rs. 2190858.

Source : Equity Bulls

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