KEC International Hits One-Month High After Relief From Delhi High Court On Power Grid's Nine-Month Ban
The court’s decision ensures KEC can continue bidding for ongoing projects, including those of Power Grid, while the matter remains under judicial review.
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The shares of KEC Internation hit one-month high on Monday after Delhi High Court has allowed the company to bid on Power Grid Corporation of India Ltd.
KEC Internation will be allowed to continue participating in ongoing tenders, including those floated by the state-owned transmission utility, according to an exchange filing on Saturday.
The relief comes after Power Grid, on Nov. 18, excluded KEC International from participating in its tenders and awarding contracts for alleged transgression of contractual provisions related to an earlier matter.
The Mumbai-based engineering and infrastructure firm clarified that the restriction has “no bearing” on execution of existing projects and does not foresee any material impact on its operations or financial position.
The court’s decision ensures KEC can continue bidding for ongoing projects, including those of Power Grid, while the matter remains under judicial review.
“The company has been excluded from participating in tenders of PGCIL and award of contracts by it for a period of nine months from November 18, 2025, without affecting any of the existing projects of PGCIL under execution,” KEC said.
It added that the company was examining various options, including legal recourse and approaching PGCIL for reconsideration of the temporary ban.
KEC Internation Share Price Today
The scrip rose as much as 7.57% to Rs 764.80 apiece on Monday, the highest level since Nov. 19. It pared gains to trade 4.61% higher at Rs 743.80 apiece, as of 10:36 a.m. This compares to a 0.65% advance in the NSE Nifty 50 Index.
It has fallen 39.88% in the last 12 months. Total traded volume so far in the day stood at 2.49 times its 30-day average. The relative strength index was at 50.47.
Out of 26 analysts tracking the company, 21 maintain a 'buy' rating, four recommend a 'hold,' and one suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target stands at Rs 939.33 indicating an upside of 26.2%.
