KEC International shares gained as much as 5% to touch an intraday high of ₹365.75, closing at ₹365.75, up ₹16.15, or 4.62% on Friday, October 10, after the company secured new orders worth ₹1,014 crore across various businesses. The positive market reaction reflects investor confidence in the company's continued order momentum and growth prospects across transmission & distribution, renewables, and cables & conductors businesses. As per Business Standard, the stock was trading 0.90% higher at ₹353 as of 12:45 PM, against a 1.05% rise in the BSE Sensex to 72,340. The latest wins take KEC International's year-to-date order intake to more than ₹9,600 crore, demonstrating strong business momentum across multiple segments.
KEC International has secured new orders worth ₹1,014 crore across its Transmission & Distribution (T&D), Renewables, and Cables & Conductors businesses, as reported by CNBC TV18. The latest wins include international transmission lines, a domestic wind project, and various cable orders in India and overseas markets. The orders include a 400 kV transmission line in Bhutan, an additional order for a 380 kV transmission line in Saudi Arabia, and the supply of towers, hardware and poles in the Americas. In the renewables segment, the company secured an order for a 300+ MW wind project from a renowned private developer in Southern India, adding a marquee client to its portfolio and demonstrating continued momentum in the wind EPC segment. The Cables & Conductors segment also received various orders in India and the overseas market, building on the current momentum across multiple business verticals.
A significant highlight of the latest order wins is KEC International's first order for setting up a 765 kV transmission line for the evacuation of power from a pumped storage plant (PSP) in Western India. As per the company's official release, this marks an important milestone for the T&D business as the company supports the growing power infrastructure requirements of the renewables segment. Vimal Kejriwal, managing director and chief executive officer of KEC International, expressed delight at securing the "prestigious" order from an existing client for the evacuation of power from a PSP. The company's secretary and compliance officer, Suraj Eksambekar, confirmed that all orders mentioned in the press release were received in the normal course of business. The new contract involves setting up a 765 kV transmission line to evacuate power from a pumped storage plant, enabling electricity generated or stored at a facility to be transferred into the wider power grid, though KEC did not disclose the project's location, client name or execution timeline.
KEC International's latest order wins build on strong recent momentum, with the company announcing orders worth ₹1,030 crore across transmission and distribution, renewables, and cables and conductors on October 8. These earlier wins included a 300-plus MW wind power project in southern India and transmission line contracts in Bhutan and Saudi Arabia. The company's year-to-date order intake of more than ₹9,600 crore reflects its expanding high-voltage transmission portfolio as India's power infrastructure requirements grow alongside renewable energy capacity. The latest contract strengthens KEC's domestic transmission portfolio and adds to its exposure to infrastructure supporting renewable power integration, positioning the company well for India's accelerating transmission capex cycle.
Kotak Institutional Equities has upgraded its rating on KEC International to 'Add' but cut the target price to ₹400 from ₹470 earlier, as reported by Business Standard. The brokerage believes KEC International is well positioned to capitalise on India's accelerating transmission capex cycle, with the CEA outlining transmission investments of ₹7.9 trillion over the next decade to facilitate 900 GW+ of non-fossil fuel capacity. Additionally, the recently approved ₹1.86 trillion Green Energy Corridor Phase III program provides further visibility on transmission spending. The cables business is entering a multi-year growth phase, with revenue potential expected to reach ₹50 billion over the next 3-4 years, implying a CAGR of 30%, driven by capacity expansion and new product launches. However, near-term margin pressure will persist with recovery likely by FY29, as KEC derives 20-25% of revenues from transportation and civil segments operating at weak margins.
