On Monday, KEC International is going to be a hot topic because they just landed new orders worth Rs 1,267 crore! This raises their total orders to a whopping Rs 23,300 crore this year. KEC International is a big player in global infrastructure and has won contracts for different types of cables and conductors both in India and other countries.
They have also been awarded important projects for power transmission and distribution (T&D), including high-voltage lines from the Power Grid Corporation of India (PGCIL). Vimal Kejriwal, the company’s MD & CEO, expressed excitement about these new orders, especially in the important green energy segment.
He added that India’s need for energy is growing, and the government is working hard to increase renewable energy and upgrade the transmission infrastructure. With these new orders, their total order intake this year compared to last year has jumped by 35%.
Stock Prices and Recommendations
Currently, analysts estimate that KEC International shares could rise to an average target price of Rs 949, meaning a potential gain of 41% from where they are now. Out of 24 analysts, most recommend buying the stock.
Recently, KEC International shares closed at Rs 672.4, down by 5.9%, while the overall market (Sensex) fell by just a little (0.27%). This stock has seen a significant drop of 44% this year and 42% in the last three months, with a market value of Rs 17,899 crore.
Leave a Reply