KEC International shares rallied 5.29% to ₹576.80 on the BSE following the announcement of new orders worth ₹1,476 crore across transmission and distribution projects. According to latest reports from Mint, the stock jumped over 5% in early trade on Thursday after the company secured orders from Saudi Arabia, the US and Africa despite the ongoing US-Iran war in the Middle East. However, the stock succumbed to selling pressure amid a sharp decline in the broader Indian stock market, trading 1.59% lower at ₹539.10 by 10:15 AM. The latest order wins have significantly strengthened the company's international T&D order book, with the year-to-date order intake now standing at approximately ₹22,800 crore.
KEC International has secured new orders worth ₹1,476 crore across its transmission and distribution (T&D) business spanning India, the Middle East, Africa and the Americas. As per the company's regulatory filing on March 11, the order book includes a 380 kV transmission line, substations and extra-high voltage (EHV) cabling project in Saudi Arabia, marking the company's largest composite T&D order in the country. The company has also secured 132 kV transmission line projects in Africa, along with supply orders for towers in India and the Americas, and hardware and poles in the Americas. These new contract wins have substantially bolstered the company's international T&D order book, with the year-to-date order intake now standing at approximately ₹22,800 crore.
Commenting on the development, Managing Director and CEO Vimal Kejriwal highlighted the significance of these wins across geographies despite challenging geopolitical conditions. As reported by Mint, Kejriwal noted that the award of their largest composite order in Saudi Arabia despite the current geopolitical situation is a positive indicator of continuing investments in the Middle East T&D market. He added that the order in Africa signals a gradual recovery in the region's transmission and distribution sector. Kejriwal expressed satisfaction with the wins, emphasizing the significance of the Saudi Arabian contract amidst the current geopolitical situation as a positive indicator for the Middle East market. These wins have significantly strengthened the company's international T&D order book, taking its year-to-date order intake to around ₹22,800 crore.
Despite the positive order wins, KEC International shares have faced significant pressure in recent months. According to Mint, the stock has fallen 11% in one month and declined over 26% on a year-to-date basis. The stock has dropped 38% in six months and 24% in one year, though it has delivered multibagger returns of 364% over the past 10 years. Anshul Jain, Head of Research at Lakshmishree Investments, noted that the stock is reflecting aggressive distribution and a breakdown in short-term structure. He warned that if the stock faces rejection near the resistance band, a renewed decline toward the ₹485 zone becomes a high-probability outcome in the sessions ahead.
Looking ahead, the company expects order inflows to return to over ₹30,000 crore annually by FY27. As reported by CNBC TV18, the stock was also in focus after the Union Cabinet approved the extension of the Jal Jeevan Mission until 2028 with a total outlay of ₹8.69 lakh crore. The company believes the programme's funding boost could help clear pending dues of around ₹800 crore and support project execution and cash flows across the sector. These recent order wins position the company well for sustained growth in the transmission and distribution sector across multiple international markets.
