KEC International share price jumped over 5% in early trade on Thursday after the company announced receipt of orders from Saudi Arabia, US and Africa despite the US-Iran war in the Middle East. KEC International shares rallied as much as 5.29% to ₹576.80 apiece on the BSE.
However, the stock succumbed to the selling pressure amid a sharp decline in the broader Indian stock market today.
EPC major said it has secured new orders of ₹1,476 crore for Transmission and Distribution projects in India, the Middle East, Africa and the Americas.
The RPG Group company said in a regulatory filing on March 11 that it received composite orders for 380 kV Transmission lines, Substations and EHV Cabling in Saudi Arabia. The company also bagged a 132 kV Transmission lines project in Africa.
Additionally, KEC International received orders for the supply of towers in India and the Americas, and an order for supply of hardware and poles in the Americas.
“We are pleased with the new order wins in our T&D business across multiple geographies. The award of our largest composite order in Saudi Arabia despite the current is a positive indicator of continuing investments in the Middle East T&D market. The order in Africa reflects a gradual recovery in the T&D market in that region,” said Vimal Kejriwal, MD & CEO, KEC International.
These wins have significantly strengthened our international T&D order book, he added.
With these orders, the company’s year-to-date order intake now stands at ₹22,800 crore.
KEC International Share Price Outlook
KEC International share price has fallen 11% in one month and has declined over 26% on a year-to-date (YTD) basis. The stock has dropped 38% in six months and 24% in one year. KEC International share price has delivered multibagger returns of 364% over the past 10 years.
The stock is reflecting aggressive distribution and a breakdown in short-term structure, according to Anshul Jain, Head of Research at Lakshmishree Investments.
“KEC International stock price is attempting a rebound, but the bounce lacks meaningful volume support, suggesting weak participation rather than genuine accumulation. The stock price is now approaching a critical unmitigated daily supply zone near ₹605, which is likely to act as strong resistance. This area could invite overhead supply as trapped longs look to exit positions,” said Jain.
He added moving averages across daily, weekly, and monthly timeframes are aligned bearishly and continue to slope downward, reinforcing the negative trend structure. Given this setup, rallies are likely to fade.
“If KEC International stock price faces rejection near the resistance band, a renewed decline toward the ₹485 zone becomes a high-probability outcome in the sessions ahead,” said Jain.
At 10:15 AM, KEC International share price was trading 1.59% lower at ₹539.10 apiece on the .
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