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KEC International Share: The shares of KEC International, the country’s second-largest company manufacturing electric power transmission towers, witnessed a significant surge today. The stock price jumped more than 15 percent intra-day, marking the biggest rise since March 2015. This upswing is attributed to a recent influx of orders received by the company.
KEC International Share Record High Reached
The buying spree drove the share price to a record high of Rs 838.25 during intra-day trading. While profit booking caused a slight price softening, the stock remains in a strong position, currently trading at Rs 812.95 on BSE, reflecting a gain of 11.58%.
KEC International Order Book Boost
The recent surge is a direct consequence of new orders secured by KEC International on Wednesday, valued at a total of ₹816 crore. These orders span across the company’s various business segments:
- Civil Business: Setting up infrastructure projects like a plant for carbon derivatives, a steel plant, and a cement plant within India.
- Transmission and Distribution (T&D) Business: Supplying towers to clients in the US.
- Cable Business: Supplying various types of cables for projects in India and abroad.
These new orders bolster the company’s order book for FY 2024 to ₹18,102 crore, although falling slightly short of the initial target of Rs 20,000 crore.
KEC International Company’s Growth Outlook
In a February 28th discussion with CNBC-TV18, KEC International’s CMD, Vimal Kejriwal, expressed confidence in achieving order inflows of Rs 20,000 crore for FY 2024 and Rs 23,000 crore for FY 2025. He also projected an EBITDA margin of 6.5 percent for FY 2024.
Strong Year-on-Year Performance
KEC International shares have delivered impressive returns to investors over the past year. On April 5, 2023, the stock price stood at Rs 446.05, representing its one-year low. Since then, the share price has surged by approximately 88%, reaching its current record high of Rs 838.25.
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