Livemint: March 09, 2015
Mumbai: KEC International Ltd on Thursday said it has won new orders worth Rs.1,243 crore in the transmission and distribution, railways and cables businesses.
KEC International, the flagship of RPG Group, is an infrastructure engineering, procurement and construction (EPC) company.
A major chunk of these orders were won in the transmission and distribution business, with the segment contributing Rs.995 crore to the new order value. “Have won three turnkey orders in India from Power Grid Corp., two orders from Saudi Arabia and orders from Brazil, United States and Mexico through its subsidiary SAE Towers,” the company said in its statement.
New order inflow in the power sector in generation, and transmission and distribution, has been muted for the past two years. With the private sector shying away from fresh investments in this space, most of the new orders have been from the state-owned companies.
At 12.40pm, KEC International shares rose 3.3% to Rs.90.60 while India’s benchmark Sensex fell 0.08% to 29,358.47 points.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.