KEC International shares in news today as firm wins fresh orders in Saudi Arabia 

Shares of KEC International are in news on Friday after the firm won fresh orders worth Rs 1,423 crore. The orders relate to design, supply and installation of 380 kV transmission lines in Saudi Arabia. KEC International shares ended 6.15% higher on Thursday at Rs 989 against the previous close of Rs 931.70 on BSE. Market cap of the firm climbed to Rs 25,426 crore. It also hit a record high of Rs 1003.05 in the previous session. 

The civil construction stock has gained 63% in 2024 and risen 50% in a year. A total of 2.04 lakh shares of the firm changed hands amounting to a turnover of Rs 19.99 crore.

KEC International shares have a beta of 1, indicating high volatility in a year.

In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 73.1, signaling it's trading in the overbought zone.

The stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 200 day and 100 day moving averages. The stock fell to a 52 week low of Rs 551 on November 8, 2023. 

Vimal Kejriwal, MD & CEO, KEC International said, “We are happy with the continuous inflow of orders, especially in our T&D business. These orders in Saudi Arabia along with the earlier orders in UAE and Oman have further reinforced our leadership in the Middle East and substantially enhanced our international T&D order book. With these orders, our YTD order intake stands at over Rs 11,300 crores, an impressive growth of ~75% compared to last year.”

In July this year, the firm won fresh orders worth Rs 1,100 crore. The orders related to transmission & distribution (T&D) projects in India, the Middle East, Australia, and the Americas.

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 is currently executing infrastructure projects in 30 plus countries and has a footprint in 110 plus countries (includes EPC, supply of towers and cables). It is the flagship company of the RPG Group.