KEC International bags Rs 1,047 cr new orders across various business verticals
Infrastructure firm KEC International on Wednesday said it has secured new orders worth Rs 1,047 crore across various business verticals
New Delhi: Infrastructure firm KEC International on Wednesday said it has secured new orders worth Rs 1,047 crore across various business verticals.
The company has secured orders worth Rs 669 crore for transmission and distribution projects in India, South Asian Association for Regional Cooperation (SAARC) countries, Middle East and the Americas, KEC International said in a regulatory filing.
Its civil business has secured orders of Rs 153 crore for defense and residential projects in India.
KEC International has secured new orders of Rs 1,047 crore across its various businesses pic.twitter.com/bDw7ybDzTd
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"The solar business has secured orders worth Rs 104 crore for solar projects in India and the Middle East," it said.
The cables business, has secured orders of Rs 121 crore for various types of cables/cabling projects, it added.
"We are delighted with the new order wins secured across our business verticals amidst the current market scenario.
"The orders in transmission and distribution (T&D) will enable us to further strengthen our portfolio in the international markets. We are particularly encouraged by the second order in the defence segment secured by our civil business," KEC International Ltd MD and CEO Vimal Kejriwal said.
Shares of the company were trading at Rs 258.35 a piece on BSE in the morning trade, down 0.75 percent from the previous close
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Private investments, which averaged 37 percent between fiscals 2008 and 2013, fell by 600 basis points (bps) between fiscals 2013 and 2017 to 31 percent, which fell a steep 600 bps further to 25 percent in FY18, as a plethora of stalled projects and stressed assets dampened investor interest and risk appetite.