Shares of energy company KEC International (NSE: KEC) are flying on Friday. The company’s share price rose 5% to a 1-year high.
The reason behind this jump is the news of the company getting T&D orders worth Rs 1423 crore from Saudi Arabia.
On Friday, the KEC International share price opened at Rs 1036.05 on the BSE, which is about Rs 7.75 higher than the previous day’s closing price of Rs 989.
After this, the KEC International share price touched its 52-week high. However, due to the earthquake in the stock market, it was trading at 1.24 percent up around 1001.
KEC International Limited is an international infrastructure EPC significant and an RPG Group company.
It said in its press release that it had secured new orders totalling Rs. 1,423 crores for the development and supply of 380 KV (kilo voltage) for transmission lines within Saudi Arabia.
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1090 Percent Superhit Return
Following this news, the KEC International share price on Friday reached its 52-week high on the BSE.
The KEC International share price has increased by about 66% this year, which has given unprecedented returns to investors.
If we talk about one year, it has given a return of 48 percent and more than 310 percent in the last 5 years.
Since the year 2006, it has made its investors rich by giving a superhit return of about 1090 percent.
On the latest order, the CEO and MD Vimal Kejriwal stated, they are pleased with the constant order flow, particularly within the T&D company.
The orders from Saudi Arabia and previous orders placed in and around the UAE and Oman have strengthened their position as a leader across our position in the Middle East and increased our international T&D order book significantly.
Order Intake Of Rs 11,300 Crore
With these orders, KEC International’s order intake this year exceeds Rs 11,300 crore, an impressive growth of 75% over the previous year.
A few days ago, KEC announced orders worth Rs 1,079 crore in Transmission & Distribution (T&D) and Cable businesses from the Middle East.
Quick Fact
Company name | KEC International
| Company name | KEC International |
|---|---|
| New orders | ₹1,423 crore |
| Country for orders | Saudi Arabia |
| Type of project | Transmission lines |
| Voltage capacity | 380 KV |
| Order intake 2023 | ₹11,300 crore |
| Growth over last year | 75% |
| Previous orders | ₹1,079 crore |
| Region for previous orders | UAE and Oman |
| 2023 share rise | 66% |
| 1-year return | 48% |
| 5-year return | 310% |
| Return since 2006 | 1090% |
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