Vimal Kejriwal, MD & CEO of KEC International, said, “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. With these orders, our YTD order intake stands at over Rs 11,300 crores, an impressive growth of ~75% compared to last year.β
In addition to these recent achievements, KEC International secured new orders worth Rs 1,079 crore last month for its T&D and cables segments. These include a 765 kV/400 kV transmission line project in India, 230/132 kV projects in Saudi Arabia and Oman, a 400 kV upgrade in the UAE, and supply contracts in the Americas. The cables segment has also seen new orders in both domestic and international markets.
At 11:29 am, the stock was trading 1.6% higher at Rs 1,004 on the BSE. On a year-to-date basis, it has surged 65% and has rallied nearly 150% in the past two years.
According to Trendlyne data, the average target price for the stock is Rs 905, indicating a 9% downside from current levels. The consensus recommendation from 24 analysts is a βBuyβ. The stockβs relative strength index (RSI) is at 73.1, suggesting it is currently overbought, as an RSI above 70 is considered overbought.KEC International, part of the RPG Group, is a major global player in infrastructure engineering, procurement, and construction (EPC). The company operates in various sectors including power transmission and distribution, civil, railways, urban infrastructure, renewables, and oil & gas pipelines, with a presence in over 30 countries and operations spanning more than 110 countries.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Source link
