KEC International Stock Price Surges 5% Following Secured Orders in Saudi Arabia and Africa Amid Global Tensions

KEC International Share Price Sees 5% Jump Amid New Order Wins

KEC International (BSE: 517510), a leading EPC major, has seen its share price jump over 5% in early trade on Thursday following the announcement of new order wins from various geographies. Despite the US-Iran war in the Middle East, KEC International secured new orders worth ₹1,476 crore for Transmission and Distribution projects in India, the Middle East, Africa, and the Americas.

The company received composite orders for 380 kV Transmission lines, Substations, and EHV Cabling in Saudi Arabia, as well as a 132 kV Transmission lines project in Africa. Additionally, KEC International bagged orders for the supply of towers in India and the Americas, and an order for the supply of hardware and poles in the Americas.

The new order wins have significantly strengthened the company's international T&D order book, with the year-to-date order intake now standing at ₹22,800 crore. The company's management is optimistic about the new order wins, citing a positive indicator of continuing investments in the Middle East T&D market.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Share Price Outlook

KEC International share price has fallen 11% in one month and has declined 26% on a year-to-date (YTD) basis. The stock has dropped 38% in six months and 24% in one year. Despite this, the stock has delivered multibagger returns of 364% over the past 10 years.

However, analysts at Lakshmishree Investments are bearish on the stock, citing a breakdown in short-term structure and weak participation in the recent rebound. The stock is approaching a critical unmitigated daily supply zone near ₹605, which is likely to act as strong resistance. Moving averages across daily, weekly, and monthly timeframes are aligned bearishly and continue to slope downward, reinforcing the negative trend structure.

Current Trading

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

At 10:15 AM, KEC International share price was trading 1.59% lower at ₹539.10 apiece on the BSE.