KEC International Stock Price Jumps 7% on Rs 1171-Crore Order Win
Key Highlights
* KEC International share price surged more than 5 percent in early trading on August 29. * The surge came after the company announced new orders worth Rs 1171 crore. * The orders are for transmission and distribution (T&D) and cables business.
Detailed Analysis
KEC International, a construction engineering company, saw its share price jump by as much as 7 percent on Thursday, August 29, 2024. The surge came after the company announced that it had won contracts worth Rs 1171 crore. The orders are for the company's T&D and cables business. The T&D business is engaged in the design, engineering, procurement, construction, and commissioning of power transmission and distribution projects. The cables business manufactures and supplies a wide range of cables, including power cables, control cables, and communication cables. The new orders are expected to boost the company's revenue and profitability in the coming quarters. Analysts believe that the company is well-positioned to benefit from the growing demand for power infrastructure in India and other emerging markets.
Long-Term Outlook
KEC International has a strong track record of growth and profitability. The company has a diversified portfolio of businesses and a strong order book. Analysts are optimistic about the company's long-term prospects. They believe that the company is well-positioned to continue to grow its revenue and profitability in the coming years.
Recent News
* August 29, 2024: KEC International share price jumps 7% on Rs 1171-crore order win * August 28, 2024: KEC International wins Rs 1025 crore order for TD and cables business * August 27, 2024: KEC International secures new orders worth Rs 1005 crore across diverse business segments
Disclaimer
The information provided in this article is for informational purposes only and should not be construed as financial advice. Investors should always consult with a qualified financial advisor before making any investment decisions.
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