India's KEC International hits record high on orders worth 10.17 bln rupees

ABB India

03/07/2024 05:20

** Shares of KEC International  KECL.NS  rise 6.5% to a
record high of 956 rupees
    ** Engineering, procurement and construction co said on
Tuesday it secured orders worth 10.17 bln rupees($121.8 mln),
its largest solar orders in India
    ** Orders are for construction and supply of towers in the
Middle East; total order intake so far this year crosses 50 bln
rupees
    ** Twenty analysts covering the stock on avg have a "hold"
rating; median PT is 775 rupees - LSEG data
    ** KECL gained 20% in June; rivals ABB India  ABB.NS  and
Siemens  SIEM.NS  gained 2% and 11% respectively, whereas
Thermax  THMX.NS  and Kalpataru Projects  KAPT.NS  shed 1% and
2%, respectively



($1 = 83.5110 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))