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According to a regulatory filing dated March 15, KEC has received orders for supplying various types of cables and conductors in India and abroad. It has also secured Notification of Awards (NOAs) and a comfort letter for transmission and distribution (T&D) projects, including 800 kV HVDC and 765 kV transmission line orders from Power Grid Corporation of India (PGCIL) and the supply of towers, hardware, and poles in the Americas.
Vimal Kejriwal, MD & CEO, KEC International Ltd, said, “We are delighted with the substantial orders secured in our T&D business, particularly in the prestigious HVDC and 765 kV segments from PGCIL for green energy evacuation.”
“These wins have further strengthened our T&D order book in India. We have a strong positive outlook on the growth of India’s T&D market, fueled by the nation’s rising energy needs and the government’s unwavering drive to enhance renewable power capacity and transmission infrastructure. With these new orders, our YTD order intake stands at over Rs. 23,300 crores, a growth of 35% vis-à-vis last year,” he said, as per the regulatory filing.
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KEC International shares target price
As per Trendlyne data, the average target price of the stock is Rs 949, which shows an upside of 41% from the current market prices. The consensus recommendation from 24 analysts for the stock is a 'Buy'.
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KEC International shares performance
On Thursday, KEC International shares closed at Rs 672.4, Down 5.9% on the BSE, while the benchmark Sensex fell 0.27%. The stock has declined 44% year-to-date and 42% in the last three months. The company’s market capitalization stands at Rs 17,899 crore.
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