Wednesday, June 18, 2008

KEC International gains on new order win

KEC International gained 1.12% to Rs 516 at 11:59 IST on BSE after the company said on Tuesday, 17 June 2008, it has bagged an order worth Rs 160 crore from National Thermal Power Corporation’s Electric Supply Company.

The stock hit a high of Rs 523 and a low of Rs 512.80 so far during the day. The stock had a 52-week high of Rs 922 on 8 November 2007 and a 52-week low of Rs 445.90 on 2 June 2008.

The company has an equity capital of Rs 49.34 crore. Face value per share is Rs 10.

The current price of Rs 516 discounts its Q4 March 2008 annualised EPS of Rs 49.18, by a PE multiple of 10.49.

The work covers electrification of 1454 villages, providing two lakh BPL service connections and fourteen 33/11-kilovolt-new/augmentation substations in Dumka district of Jharkhand.

In May 2008, KEC International secured a contract worth Rs 111.41 crore from Power Grid Corporation of India for supply and construction of 400 kilovolt transmission lines.

In April 2008, the company bagged two contracts worth Rs 155.24 crore from Power Grid Corporation of India for supply and construction of 400-kilovolt double circuit transmission line in Kerala.

In March 2008, the company bagged two contracts worth Rs 46 crore from Madhya Pradesh Power Transmission Company for the supply and construction of a 220-kilovolt double circuit transmission.

KEC International’s net profit rose 100.9% to Rs 60.66 crore on 60.2% rise in net sales to Rs 1031.03 crore in Q4 March 2008 over Q4 March 2007.

KEC International, a RPG group company, is one of the largest power transmission engineering, procurement and construction (EPC) companies.

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