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KEC International secures orders worth `400cr
KEC International (KEC) has bagged orders totaling to `400cr in the T&D
segment mainly through the overseas corridor. The company secured orders for
380kV double circuit transmission lines from Saudi Electricity Company (SEC),
Saudi Arabia. Valued at `306cr; the order is secured through the company’s joint
venture with Al-Sharif Group, Saudi Arabia with a completion time of 24 months.
On the domestic front, the company secured orders from PGCIL (`70cr) and Visa
Power (`24cr) for constructing 400kV circuit lines. With these orders, the order
book stands at `8,450cr (1.9x FY2011 sales).
KEC continues to maintain its strong growth trajectory due to its diversified reach.
Nonetheless, concerns on profitability have posed a concern, as evident from the
recent quarterly results. Despite positive news flow; the stock has failed to deliver
slightest of upside yesterday – fell more than 3% yesterday, which highlights
troubled waters for the company to sail ahead. In our view, margin pressures and
high interest will keep the profitability under strict check. Further, due to lack of
positive news flows (read sector related); we believe the stock is likely to remain
range bound, thereby offering limited upside. We continue to remain neutral on
the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
KEC International secures orders worth `400cr
KEC International (KEC) has bagged orders totaling to `400cr in the T&D
segment mainly through the overseas corridor. The company secured orders for
380kV double circuit transmission lines from Saudi Electricity Company (SEC),
Saudi Arabia. Valued at `306cr; the order is secured through the company’s joint
venture with Al-Sharif Group, Saudi Arabia with a completion time of 24 months.
On the domestic front, the company secured orders from PGCIL (`70cr) and Visa
Power (`24cr) for constructing 400kV circuit lines. With these orders, the order
book stands at `8,450cr (1.9x FY2011 sales).
KEC continues to maintain its strong growth trajectory due to its diversified reach.
Nonetheless, concerns on profitability have posed a concern, as evident from the
recent quarterly results. Despite positive news flow; the stock has failed to deliver
slightest of upside yesterday – fell more than 3% yesterday, which highlights
troubled waters for the company to sail ahead. In our view, margin pressures and
high interest will keep the profitability under strict check. Further, due to lack of
positive news flows (read sector related); we believe the stock is likely to remain
range bound, thereby offering limited upside. We continue to remain neutral on
the stock.
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