KEC International rises on signing agreements with Warora-Kurnool Transmission
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KEC International is currently trading at Rs. 421.60, up by 5.35 points or 1.29% from its previous closing of Rs. 416.25 on the BSE.
The scrip opened at Rs. 422.00 and has touched a high and low of Rs. 426.35 and Rs. 414.90 respectively. So far 16229 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 486.45 on 03-Mar-2021 and a 52 week low of Rs. 175.70 on 24-Apr-2020.
Last one week high and low of the scrip stood at Rs. 426.80 and Rs. 394.00 respectively. The current market cap of the company is Rs. 10788.71 crore.
The promoters holding in the company stood at 51.82%, while Institutions and Non-Institutions held 35.88% and 12.31% respectively.
KEC International (KEC) has signed project/novation agreements with Warora-Kurnool Transmission (WKTL), a subsidiary of Adani Transmission (ATL) for Rs 477 crore to complete the balance work of the Transmission lines in the states of Andhra Pradesh, Maharashtra and Telangana and release of the earlier dues of this project. The execution of these transmission lines is expected to commence shortly. ATL had signed agreements with Essel Infraprojects (EIL) on March 26, 2021 for acquisition of WKTL.
KEC International is a global infrastructure EPC major. It has presence in power transmission and distribution, cables, railways, water, renewables and civil.
