Shares of KEC International rose on September 14 after the company said it had secured new orders worth Rs 1,108 crore in various businesses.

RPG Group said its power transmission and distribution business had secured orders for power transmission and distribution line projects in India, the Middle East and Africa. This includes orders for 400 kV transmission lines from Grid Corporation in India, 132 kV underground cables from a state-owned utility in India, 220 kV transmission lines and towers in the Middle East from its UAE subsidiary, and 330 kV transmission lines in Africa.

Likewise, the company’s railway business has received technical support and orders in traditional/emerging sectors in India, including overhead subway electrification, auxiliary power, SCADA systems and related works, signalling and telecommunications for Kavach’s Train Collision Avoidance System (TCAS) works. Combined orders for rail and related civil works doubled.

The company’s oil and gas pipeline business has also secured orders for laying multinational pipelines and related works in India.

The stock rose nearly 5% on the day to a high of Rs 450 as the broader market was in disarray. KEC International’s Shares are down about 9% so far this year.

• CleanMax and Equinix Partnered Up To Build 33 MW Projects 
• NTPC and ONGC Joint Venture Arms Declared Highest for Ayana Renewable 
• US Markets Slips as Investors Book Profit 
• Boat Gears Up for $300-500 Million IPO
• Stocks Under F&O Ban: Gujarat Narmada Valley, Hindustan Copper, and Others

Analysts are divided on the stock, seeing little room for upside. While Geojot Financial said it was overweight, it had a target price of Rs 435. HDFC Securities has a sell rating of Rs 375. Chola Wealth has a buy rating of Rs 460.