KEC International Ltd. has won new orders worth Rs 1,042 crore across various business verticals, such as railways, civil, cables, transmission, and distribution.
In the railway business segment, the heavy electrical equipment maker has secured its maiden international order for a signalling and telecommunication project in the SAARC region (South Asian Association for Regional Cooperation), according to an exchange filing on Wednesday.
Its transmission and distribution business bagged orders to set up overhead transmission lines in the Middle East and supply towers in India, Europe, and the U.S.
KEC's subsidiary, SAE Towers, secured an order to supply hardware and poles in the Americas. The engineering, procurement, and construction major further won an order in the metals and mining segment from a reputed steel player in India, according to the release.
"The railway business has successfully expanded its footprint internationally, leveraging the strong presence of our T&D business," said Vimal Kejriwal, chief executive officer at KEC International. "The civil business continues to strengthen its order book in the industrial segment with the addition of a very reputed client."
Shares of KEC International closed 0.16% lower at Rs 574.10 apiece on Wednesday, as compared with a 0.05% rise in the benchmark NSE Nifty 50. The stock advanced as much as 1.72% intraday.
Out of the 25 analysts tracking the company, 16 maintain a 'buy' rating on the stock, five recommend a 'hold,' and four suggest a 'sell,' according to Bloomberg data. The return potential, as calculated by the consensus of analyst estimates, stands at a downside of 0.3% over the next 12 months.
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