KEC.NSE KEC International Ltd.

The companys civil business has secured prestigious orders from new clients in the data centre and FMCG segments in India to build a data centre in Western India and to set up manufacturing facility for a global FMCG major in Southern India.The firms Transmission & Distribution (T&D) business has secured orders for T&D projects in India and Americas. The said order includes 765 kV transmission line in India from an existing private client and supply of towers, hardware and poles in Americas.The cable business of the company has secured orders for supply of various types of cables in India and overseas.Vimal Kejriwal, MD & CEO, KEC International, said, “We are pleased with the continuous inflow of orders, especially in our T&D and Civil businesses. The civil business continues to diversify its customer base, with the addition of marquee clients. The prestigious order for building a Data centre, reaffirms our confidence in the strong growth of this segment. We are particularly encouraged by the continuous inflow of tower supply orders from the North American market. With the above orders, our YTD order intake stands at a record level of over Rs 6,500 crore, a strong growth of 11% vis-à-vis last year.”KEC International executes power transmission and distribution, railways, civil and solar projects on an EPC basis. It also manufactures power and telecom cables. KEC is one of the largest power transmission EPC companies in the world with presence in over 70 countries and a strong presence in India, the Middle East, Africa, South Asia the Americas and Central Asia.The companys consolidated net profit jumped 36.5% to Rs 42.33 crore on 27.9% increase in net sales to Rs 4,243.59 crore in Q1 FY24 over Q1 FY23.The scrip hit all time high at Rs 739 in intraday today.

LIC saw a decisive breakout of long falling resistance trendline adjoining highs of December 20 last year, and August 11 this year. The stock has formed a bullish candlestick pattern with long upper shadow on the daily charts with strong volumes.

The price chart of KEC International indicates a breakout from a triangular pattern on the daily timeframe, accompanied by significant trading volume.

The civil business has secured an order for design, engineering, procurement and construction of a multispeciality hospital in India. The companys transmission & distribution (T&D) business has secured an order for a 380 kV overhead transmission line project in the Middle East.The cable business of EPC major has also secured orders for supply of various types of cables in India and overseas.Vimal Kejriwal, managing director (MD) & chief executive officer (CEO), KEC International commented, “We are pleased with the continuous inflow of orders, especially in our T&D and civil businesses. In line with our strategy, the civil business has expanded its presence by securing a breakthrough order for building a multispeciality hospital in Eastern India. The T&D order in the Middle East region has significantly enhanced our order book in the international T&D market. With the above orders, our YTD order intake stands at a record level of over Rs 5,500 crore, a strong growth of more than 15% vis-à-vis last year.”KEC International executes power transmission and distribution, railways, civil and solar projects on an EPC basis. It also manufactures power and telecom cables. KEC is one of the largest power transmission EPC companies in the world with presence in over 70 countries and a strong presence in India, the Middle East, Africa, South Asia the Americas and Central Asia.The companys consolidated net profit jumped 36.5% to Rs 42.33 crore on 27.9% increase in net sales to Rs 4,243.59 crore in Q1 FY24 over Q1 FY23.

Brokerage house Geojit has reiterated 'Accumulate' rating on the stock with a target price of Rs 703

Geojit recommended accumulate rating on KEC International with a target price of Rs 703 in its research report dated August 16, 2023.