K E C International Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

JM Financial Ltd, Aarti Pharmalabs Ltd, TV18 Broadcast Ltd and Godfrey Phillips India Ltd are among the other gainers in the BSE's 'A' group today, 29 August 2024.

K E C International Ltd surged 9.30% to Rs 948 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 3.98 lakh shares were traded on the counter so far as against the average daily volumes of 26480 shares in the past one month.

JM Financial Ltd soared 8.15% to Rs 110.1. The stock was the second biggest gainer in 'A' group. On the BSE, 11.06 lakh shares were traded on the counter so far as against the average daily volumes of 4.2 lakh shares in the past one month.

Aarti Pharmalabs Ltd spiked 7.77% to Rs 704.6. The stock was the third biggest gainer in 'A' group. On the BSE, 1.1 lakh shares were traded on the counter so far as against the average daily volumes of 16647 shares in the past one month.

TV18 Broadcast Ltd gained 7.76% to Rs 51.66. The stock was the fourth biggest gainer in 'A' group. On the BSE, 56.65 lakh shares were traded on the counter so far as against the average daily volumes of 12.33 lakh shares in the past one month.

Godfrey Phillips India Ltd advanced 7.29% to Rs 6231. The stock was the fifth biggest gainer in 'A' group. On the BSE, 27422 shares were traded on the counter so far as against the average daily volumes of 16723 shares in the past one month.

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The company has bagged contracts for setting up 400 kV Transmission line in the United Arab Emirates (UAE) and 380 kV Transmission line in Saudi Arabia.

Vimal Kejriwal, MD & CEO, KEC International, said: We are delighted with the ongoing success in our T&D business, highlighted by a series of significant order wins. The sustained inflow of orders in the Middle East has substantially expanded our International T&D order book.

With the above orders, our YTD order intake stands at ~Rs 10,000 crores, a stellar growth of 80% compared to last year. These orders, coupled with the orders announced earlier during the year, reaffirm our confidence in achieving the targeted growth going forward.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of Power transmission and distribution, railways, civil, urban infrastructure, solar, Oil & gas pipelines, and cables.

The company's consolidated net profit surged to Rs 87.58 crore in the quarter ended June 2024 as against Rs 42.33 crore during the previous quarter ended June 2023. Sales rose 6.32% to Rs 4511.89 crore in Q1 FY25 as compared to Q1 FY24.

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The key equity indices traded with substantial gains in morning trade. The Nifty traded above the 25,000 level. IT shares advanced after declining in the past three consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex jumped 601.63 points or 0.74% to 81,687.84. The Nifty 50 index advanced 179.65 points or 0.72% to 25,002.80.

In the broader market, the S&P BSE Mid-Cap index added 0.53% and the S&P BSE Small-Cap index gained 0.40%.

The market breadth was positive. On the BSE, 2,207 shares rose and 1,546 shares fell. A total of 195 shares were unchanged.

Economy:

India’s forex reserves jumped by $4.546 billion to $674.664 billion during the week ended August 16, according to the latest RBI data.

In the previous week, the forex kitty had dropped by $4.8 billion to $670.119 billion. On August 2, the overall reserves hit an all-time high of $674.919 billion.

The foreign currency assets, a major component of the reserves, increased by $3.609 billion to $591.569 billion, the RBI data showed.

Gold reserves increased by $865 million to $60.104 billion during the week ended August 16. The special drawing rights (SDRs) were up by $60 million to $18.341 billion.

India’s reserve position with the IMF was up by $12 million to $4.65 billion during the week, said the RBI.

New Listing:

Shares of Interarch Building Products were currently trading at Rs 1,241.60 at 10:15 IST on the BSE, representing a premium of 36.98% as compared with the issue price of Rs 900.

The scrip was listed at Rs 1,291.20, exhibiting a premium of 43.47% to the issue price.

So far, the stock has hit a high of 1,316 and a low of 1214.45. On the BSE, over 4.28 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty IT index gained 1.64% to 41,763.95. The index fell 1.16% in past three consecutive trading sessions.

Persistent Systems (up 3.23%), Mphasis (up 2.31%), Wipro (up 2.06%), Coforge (up 1.99%), Tata Consultancy Services (up 1.62%), LTIMindtree (up 1.51%), Infosys (up 1.18%), Tech Mahindra (up 1.1%), HCL Technologies (up 1.06%) and L&T Technology Services (up 0.89%) advanced.

Stocks in Spotlight:

KEC International jumped 3.52% after the company said that it has secured new orders of Rs 1,079 crore in transmission & distribution (T&D) and cables businesses.

Lemon Tree Hotels rose 0.57%. The company has signed a license agreement under its upscale brand, Aurika Hotels & Resorts, with Aurika, Surat in Gujarat.

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The company’s T&D business has bagged contract for setting up transmission lines from a reputed private developer in India and from clients in Saudi Arabia and Oman. It has received an orders for upgrading an existing transmission line in the United Arab Emirates (UAE) and for supplying towers, hardware and poles to a client in Americas.

The cables business has secured orders for supply of various types of cables in India and overseas.

Vimal Kejriwal, MD & CEO, KEC International, commented: “We are pleased with the continuous inflow of orders, particularly in our T&D business.

The prestigious order in India T&D from a private developer has enhanced our presence in the India T&D market and further diversified our clientele. The significant orders across Saudi Arabia, Oman and the UAE have substantially expanded our International T&D order book in the Middle East.

With these orders, our YTD order intake has surpassed Rs 8,700 crore, reflecting an impressive growth of nearly 60% compared to last year.”

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of Power transmission and distribution, railways, civil, urban infrastructure, solar, Oil & gas pipelines, and cables.

The company's consolidated net profit surged to Rs 87.58 crore in the quarter ended June 2024 as against Rs 42.33 crore during the previous quarter ended June 2023. Sales rose 6.32% to Rs 4511.89 crore in Q1 FY25 as compared to Q1 FY24.

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