KEC International has recently made headlines with a notable surge in its share price. On August 29, the company's shares jumped by over 5 per cent following the announcement of securing new Transmission and Distribution (T&D) orders worth ₹1,171 crore in the Middle East. This significant development highlights KEC International's expanding global footprint and strengthens its position as a key player in the sector. For those interested in capitalising on such opportunities, buying stocks online offers a convenient way to invest in promising companies like KEC International.
Strong start on August 29
KEC International's shares saw a significant increase of over 5 per cent in early trading on August 29. This surge followed the company's announcement of securing new Transmission and Distribution (T&D) orders worth ₹1,171 crore in the Middle East. The major contracts include a 400 kV transmission line project in the UAE and a 380 kV transmission line project in Saudi Arabia. At 09:21 am, the stock was priced at ₹916.80, marking a gain of ₹49.50, or 5.71 per cent, on the BSE. For those looking to invest, it's a favourable moment to consider options when choosing to buy stocks online.
Noteworthy orders and growth
On August 23, KEC International had previously secured additional orders valued at ₹1,079 crore. These orders span across its T&D and cable segments, including the construction of 765 kV/400 kV transmission lines for a private developer in India and 230/132 kV transmission lines in Saudi Arabia and Oman.
The company also received contracts for upgrading a 400 kV transmission line in the UAE and supplying various cables and components in the Americas. This recent growth highlights the company's expanding international footprint and bolsters confidence in prospects. Investors might consider buying stocks online to capitalise on these developments.
Management's optimistic outlook
Vimal Kejriwal, MD and CEO of KEC International, expressed optimism about the company's performance, citing the significant increase in the international T&D order book. With the new orders, the year-to-date order intake has reached approximately ₹10,000 crores, an impressive 80 per cent increase from the previous year.
This continued success in securing large contracts reassures investors about the company's growth trajectory. For those exploring investment opportunities, buying stocks online can provide access to companies like KEC International that are showing promising growth.
Recent performance and financial results
KEC International has demonstrated effective performance over the past year, with its shares increasing nearly 32 per cent in the last 12 months and 51 per cent so far in 2024. Despite a modest 2 per cent gain in the past month, the stock has shown a notable rally of about 26 per cent in the last six months.
The company reported a substantial year-on-year increase in net profit, with a 106.9% rise to ₹876 million for the quarter ending June 2024, compared to ₹423 million the previous year. For the fiscal year ended March 2024, net profit surged by 97 per cent to ₹3,468 million, and revenue grew by 15.2 per cent to ₹199,142 million. These financial results reflect a strong performance that may appeal to investors considering buying stocks online.
Valuation and market position
Currently, KEC International's Price-to-earnings (P/E) ratio stands at 59.9 based on the rolling 12-month earnings. This valuation reflects investor confidence in the company's future earnings potential despite recent market fluctuations. As the company continues to secure large contracts and expand its order book, it may present a valuable opportunity for those looking to buy stocks online. The recent share price surge underscores the market's positive response to KEC International's strategic moves and financial performance.
Key takeaways
KEC International's recent share price surge highlights the company's strong market position and growth prospects. With substantial new orders and impressive financial results, the stock has become an attractive option for investors. For those interested in capitalising on the company's success, exploring options to buy stocks online can provide a convenient way to participate in KEC International's growth. As always, it is important to stay informed and consider market trends when making investment decisions.
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