KEC International Ltd.’s stock rose more than 7% on Thursday following the company’s acquisition of contracts from the Middle East valued at Rs 1,171 crore. According to an exchange filing, the contracts comprise a 380 kV transmission line project in Saudi Arabia and a 400 kV transmission line project in the United Arab Emirates.
Growth Of KEC International
Vimal Kejriwal, the managing director and chief executive of KEC International, voiced optimism regarding the company’s growth trajectory. He went on to emphasize the company’s audacious goal of a 15% rise in revenue by the end of the 2025 fiscal year.
Kejriwal also mentioned the easing of supply chain difficulties, which have drawn attention from a number of industry participants. With a 20% success record, KEC International is actively seeking tenders in the international market valued about Rs 40,000 crore. Additionally, the company projects that in the fiscal year 2025, its Ebitda margin would be 7.5%.
KEC International Stock Price
KEC Internationals’ stock increased by as much as 7.02% to Rs 929 per share, the most since August 1. As of 09:52 a.m., it reduced advances to trade 5.22% higher at Rs 913 apiece. In contrast, the NSE Nifty 50 Index increased by 0.18%. In the past 12 months, the stock has increased by 35.22%. The day’s total trading volume was 17 times higher than the 30-day average.
The indicator of relative strength stood at 68. Based on data from Bloomberg, of the 24 analysts that follow the firm, 15 have a buy rating, five urge a hold, and four recommend a sell. A 2.2% gain is implied by the average 12-month consensus price objective.
