| Hot Pursuit | Thursday, July 05, 2012 09:56 Hrs IST |
|
New orders boost KEC International KEC International jumped 5.53% to Rs 62 at 9:53 IST on BSE after the company said it has secured new orders aggregating Rs 795 crore spread across its transmission and power systems businesses.
The company announced the new orders after market hours on Wednesday, 4 July 2012. Meanwhile, the BSE Sensex was up 5.90 points or 0.03% to 17,468.71. On BSE, 84,000 shares were traded in the counter as against average daily volume of 45,946 shares in the past one quarter. The stock hit a high of Rs 62.70 and a low of Rs 59.80 so far during the day. The stock had hit a 52-week high of Rs 84.25 on 21 July 2011. The stock had hit a 52-week low of Rs 31.80 on 20 December 2011. The stock had outperformed the market over the past one month till 4 July 2012, surging 16.11% compared with the Sensex's 9.22% rise. The scrip had, however, underperformed the market in past one quarter, falling 11.85% as against Sensex's 0.13% fall. The company has an equity capital of Rs 51.42 crore. Face value per share is Rs 2. In transmission business, KEC International has secured three orders worth Rs 600 crore -- two orders aggregating Rs 546 crore from Power Grid Corporation of India (PGCIL) and one order worth Rs 54 crore from Ceylon Electricity Board, Sri Lanka. In power systems business, KEC International has received three orders from Kenya aggregating Rs 195 crore -- two orders for setting up substations on turnkey basis and the other order for setting up underground cables on turnkey basis. These orders are from the Kenya Power and Lighting Company (KPLC), KEC International said in a statement. Commenting on the new orders, Mr Ramesh Chandak, MD & CEO, KEC International said, "We are happy to see continuous order inflows for substations from Kenya. Apart from this, in last 6 months, we have strengthened our presence in the SAARC region by securing 4 orders for transmission lines across Afghanistan, Sri Lanka and Bangladesh". KEC International early this week said it has completed the phase-1 expansion by commending the commercial production of high tension (HT) power cables (up to 33 kV) at its green-field facility at Vadodara in Gujarat with effect from 2 July 2012. This will have annual production capacity of approximately 1,800 kilometers (KM) of cables, the company said in a statement. In phase-2, the company is in process of expanding its product portfolio by commencing manufacturing of extra high voltage (EHV) power cables (up to 220 kV) at its green-field facility at Vadodara in Gujarat. This facility will also have capability to manufacture 400 kV EHV cables, KEC International said in a statement. The company expects to complete phase-2 expansion shortly, the company added. On completion of both the phases, the Vadodara facility will have total annual production capacity of approximately 4,000 KM of cables, KEC International said in a statement. KEC International's consolidated net profit fell 5.3% to Rs 74.42 crore on 32.1% growth in net sales to Rs 2018.18 crore in Q4 March 2012 over Q4 March 2011. KEC International is a global infrastructure engineering, procurement and construction (EPC) company. It has presence in the verticals of power transmission, power systems, cables, railways, telecom and water. The company has powered infrastructure development in 46 countries across South Asia, Middle East, Africa, Central Asia and Americas. It is a flagship company of the RPG Group.
|
|
|||||||||||||||||||
|
|
|||||||||||||||||||||