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KEC Shares Rose 9% After Robust FY23 Results

19 May 20232 mins read by Angel One
The FY23 order intake of Rs 22,378 crore, a stellar growth of 30% YoY and L1 bidder for orders of over Rs 3,500 crore.
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The benchmark indices started the day flat. BSE Sensex Index is down by 0.13% at a level of 61,357 and NSE Nifty-50 Index is down by 0.22% at a level of 18,090.   

In the broader market, the indices were trading lower with BSE Mid-cap Index down by 0.40% and BSE Small-cap Index down by 0.42%.   

Despite the market being in red today, one of the top gainers on BSE, shares of KEC International Ltd jumped 9.60% to an intraday high of Rs 527.25 per share from its previous closing of Rs 481.05 per share.   

The stock has a 52-week high of Rs 571.35 per share and a 52-week low of Rs 351.80 per share. The shares of the company saw a spurt in volume by more than 4 times on BSE.  

Recently the company announced its quarterly results and annual results for the year ended March 31, 2023.  

The company delivers robust revenue growth of 29% QoQ in Q4FY23 and 26% YoY in FY23. The FY23 order intake of Rs 22,378 crore, a stellar growth of 30% YoY. The order book as of March 31, 2023 of Rs 30,553 crore, a robust growth of Rs 29% YoY. Additionally, it is L1 bidder for orders of over Rs 3,500 crore.  

The company has also announced a dividend of 150% or Rs 3 per equity share having a face value of Rs 2 each.  

KEC International Limited is a power transmission company which is involved in the design, manufacture, supply and construction of turnkey projects of power transmission lines. It is the flagship company of the RPG Group established in 1979.  

The stock gave multibagger returns of over 170% in just 2 years. Investors should keep an eye on this mid-cap company.

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