KEC International rises over 2 per cent on receiving order worth Rs 477 crore
KEC International Limited announced during the weekend that it has signed a project/novation agreement with Warora-Kurnool Transmission Limited, a subsidiary of Adani Transmission Limited.
The cost of the project is Rs 477 crore while the work involves completing the balance work of the transmission lines in the states of Andhra Pradesh, Maharashtra and Telangana along with the release of the earlier dues of this project.
Reacting to this, the company’s stock today increased by 2.43 per cent and made an intraday high of Rs 426.35 per share.
KEC International is an engineering, procurement & construction (EPC) company. The company provides services in power transmission and distribution, railways, civil, solar, smart infrastructure, and cables. It has a presence in over 100 countries.
According to BSE data, the stock traded at a P/E multiple of 17.92 and a price-to-book ratio of 3.43. The stock has a 52-week high and a 52-week low of Rs 486.45 and Rs 175.70, respectively.
At 12.12 pm on Monday, the stock of the company was trading at Rs 420.55, up by 1.03 per cent on BSE.