Shares of KEC International Ltd shot up 9% on 26 August after the company announced securing new orders worth Rs 1,079 crore through its transmission & distribution (T&D) and cables businesses.

The company’s new orders through its transmission and distribution segment are: 

1. A 230/132 kilovolt (kV) transmission line project in Saudi Arabia and Oman. 
2. A 765 kV/400 kV transmission line project from a prominent private developer in India. 
3. An order to supply towers, hardware, and poles in America. 
4. An order to upgrade a 400 kV transmission line in the United Arab Emirates (UAE).

The cable business of the company has also secured multiple orders to supply cables from both Indian and international clients. 

KEC International has also announced its plans to raise up to Rs 6,000 crore via a combination of qualified institutional placement (QIP) and the issuance of non-convertible debentures (NCDs).

The company plans to raise Rs 1,500 crore via private placement in one or more tranches and raise Rs 4,500 crore through QIP by issuing equity or other equity-based instruments.

In its quarterly earnings for April-June, the company’s net profit doubled to Rs 87.6 crore for the quarter under review from Rs 42 crore reported in the same quarter last year. 

At 3:30 pm, the shares of KEC International closed 1.38% higher at Rs 851.45 on NSE.

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