Shares of KEC International surged by over 3% to reach a 52-week high of Rs 1,040 per share, following the company’s announcement that it had obtained fresh orders totalling Rs 1,423 crore for the design, supply, and installation of 380 megavolt transmission lines in Saudi Arabia.

KEC International’s MD and CEO, Vimal Kejriwal, expressed his satisfaction with the steady stream of orders, particularly in the T&D sector. He added, “These orders in Saudi Arabia along with the earlier orders in UAE and Oman have further reinforced our leadership in the Middle East and substantially enhanced our international T&D order book.”

Kejriwal said, “With these orders, our YTD order intake stands at over Rs 11,300 crores, an impressive growth of ~75% compared to last year.”

Earlier last month, the company secured new transmission and distribution (T&D) and cables orders worth Rs 1,171 crore, which includes a 400 kV transmission line in the United Arab Emirates and a 380 kV transmission line in Saudi Arabia. The company has also received new orders totalling Rs 1,079 crore in its T&D and cables business. 

KEC International declared a net profit of Rs 87.6 crore for the quarter that ended in June, more than twice the Rs 42 crore reported for the same quarter the previous year.

At 11:50 am, the shares of KEC International were trading 1.17% higher at Rs 999.35 on NSE.

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