KEC International wins New Orders of Rs. 1,415 crores

KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs. 1,415 crores in the Civil and Oil & Gas Pipeline businesses in India:

• Order for construction of elevated viaduct along with 11 stations from Chennai Metro Rail Limited (CMRL) in a Joint Venture
• Order for civil infra works in the Defence segment from a Defence entity
• Order for laying of oil and gas pipeline from Indian Oil Corporation Limited (IOCL) through our wholly owned subsidiary, Spur Infrastructure Pvt. Ltd.

Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, "We are delighted with our largest order win in Civil business, which has significantly enhanced our order book in the urban infra segment. With this order, we are currently executing seven Metro/ Regional Rapid Transit System (RRTS) projects. The strategic order in Defence further strengthens our portfolio diversification in the Civil business. We are particularly enthused by our first order in the Oil and Gas Pipelines business, post the recent acquisition of Spur Infrastructure. These orders along with the orders announced earlier, reaffirm our confidence in achieving the targeted growth going forward."

Shares of KEC International Limited was last trading in BSE at Rs. 461.50 as compared to the previous close of Rs. 457.95. The total number of shares traded during the day was 22703 in over 741 trades.

The stock hit an intraday high of Rs. 468.40 and intraday low of 459.05. The net turnover during the day was Rs. 10544180.00.

Source : Equity Bulls

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