Last updated: Sep 13, 2023 11:38 IST
Shares of KEC International hit a new high of Rs 739 on Wednesday as they rose 11 per cent on the BSE in intraday trade on Wednesday after the company said it secured fresh orders worth Rs 1,012 crore from various companies.
Shares of KEC International rose as much as 11.22 percent to a 52-week high of Rs 739.00 apiece on the BSE.
KEC International said its civil business has won orders from new customers in the data center and FMCG segments in India.
The assignment concerns the construction of a data center in Western India and the setting up of a production facility for a global FMCG giant in Southern India.
The company’s Transmission & Distribution (T&D) business has secured orders for 765 kV transmission lines in India from an existing private customer and supply of towers, hardware and masts in America, KEC International said in a regulatory filing on Tuesday .
“The civil sector continues to diversify its customer base, with the addition of major customers. The prestigious order for the construction of a data center confirms our confidence in the strong growth of this segment. We are particularly encouraged by the continued influx of tower supply orders from the North American market,” said Vimal Kejriwal, MD & CEO of KEC International Ltd.
Moreover, the company’s cable division has secured orders for supply of various types of cables in India and abroad.
“With the above orders, our year-to-date order intake stands at a record level of over Rs 6,500 crore, a strong growth of 11% over last year,” Kejriwal said.
The share price of KEC International has risen more than 13 percent in the past month. The stock is up more than 43 percent so far this year and is up 65 percent in the past one-year period.