KEC International Shares Rise Following Rs 1,315 Crore Order Acquisition
Shares of KEC International Experience Significant Surge
KEC International, a prominent player in the Construction & Engineering industry, specializing in power transmission towers, witnessed a remarkable growth in its shares. According to InvestingPro Tips, the company’s shares rose by 5.05% on Tuesday, closing at Rs 652.05 each on the NSE in the previous session. This surge came after the company acquired orders worth Rs 1,315 crore. The stock opened Tuesday at Rs 685 per share.
Acquisition of Lucrative Orders
The RPG Group company secured several orders that contributed to its impressive performance. These included a 765 kV transmission line and substation orders from the Power Grid Corporation of India Limited (PGCIL). Additionally, the company obtained tower supplies for the Middle East, Australia, and the Americas, along with hardware and poles for the Americas.
Outperforming the Market
KEC International’s shares have consistently shown remarkable growth over the past year. As per InvestingPro Tips, the company’s shares surged by 35.6% in the last six months, significantly outpacing the Nifty 50 benchmark, which rose by 11.97% during the same period. Moreover, the company’s shares have risen by 34% year-to-date, a figure considerably higher than the Nifty 50’s increase of 9.48% over the same period.
Impressive Performance Compared to the Broader Market
When compared to the broader market, KEC International’s performance stands out. According to InvestingPro data, the company’s 1 Year Price Total Return was 199.55%, which is considerably higher than the Nifty 50’s one-year rise of 14.54%.
This article provides an overview of KEC International’s recent success and highlights its strong performance in the industry. The acquisition of lucrative orders and the significant surge in share prices demonstrate the company’s growth potential and market dominance. As KEC International continues to expand its presence globally, investors are optimistic about the company’s future prospects.
