New orders pull KEC International into green

KEC International is currently trading at Rs 140.50, up by 2.95 points or 2.14% from its previous closing of Rs 137.55 on the BSE.

The scrip opened in red at Rs 132 and has touched a high of Rs 144.40 with low remaining its opening price. So far 10,245 shares were traded on the BSE.

The BSE group ‘B’ Mid-cap stock of face value Rs 10 touched a 52 week high of Rs 813.90 on march 10,2008 and a 52 week low of Rs 108.65 on December 10, 2008.

The BSE Mid-cap index is currently trading at 2,845.87, down by 0.39% from its previous closing.

The price of the scrip has witnessed corrections of 7.17% since last week and 15.94% since last month.

KEC International, a global leader in the power the power transmission and distribution EPC business, has bagged new orders in both rural electrification and transmission space aggregating to Rs 365 crore.

The company has bagged rural electrification orders awarded under the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) by the West Bengal State Electricity Distribution Company (WBSEDCL) covering electrification in 3340 villages, including providing Below Poverty Line service connections and new substations. The project is scheduled to be completed by August 2010.

Another order was awarded by Power Grid Corporation of India (PGCIL) in Bihar, covering electrification in 16 blocks including providing Below Poverty Line service connections, new substations and augmentation of existing substations. The projects are scheduled to be completed by July 2010.

The company has also bagged the transmission order from Transmission Corporation of Andhra Pradesh (APTRANSCO) comprising of supply, erection testing, and commissioning of 400 KV D/C Line from proposed Bhoopalpally TPP (Chelpur) to proposed 400 KV Sub Station at Mulugu (Waranagal) in Andhra Pradesh. The total length of the line is 44 Kms and the project is scheduled to be completed by October 2009.