KEC International Limited shares hit a day high of Rs 378.75 on 12 October, up 2%, after it won power transmission orders worth Rs 1,014 crore.

The power infrastructure firm told exchanges on Saturday, 10 October, that the orders sit in its transmission and distribution (T&D) business and come from within India.

This one is a first. KEC will build a 765 kV line, a very high voltage line that moves large amounts of electricity over long distances, to carry power out of a pumped storage plant in Western India.

A pumped storage plant works like a giant water battery. It stores energy by moving water between two reservoirs and releases it as electricity when demand rises.

Managing Director and CEO Vimal Kejriwal said the work comes from an existing client.

He called it a big step for the T&D business, since it backs the power needs of the renewable energy segment.

With this win, KEC’s order intake for the year so far stands above Rs 9,600 crore, Kejriwal said.

Orders have been piling up. On 8 October, the company disclosed wins worth Rs 1,030 crore across its T&D, renewables and cables and conductors businesses.

In September, it picked up Rs 1,303 crore of work, including a 400 kV line in northern India, 380 kV lines in Saudi Arabia and supplies of towers, hardware and poles for the Americas.

Separately, KEC went ex-dividend on 7 August, with a payout of Rs 5.50 per share.

At 9:51 am, it’s trading at Rs 369.95 on NSE, up 0.03% from the previous close.

The share touched its 52-week low of Rs 348 on 8 October and is down about 56.7% over the past year.

The company has a market value of about Rs 9,844 crore, and the stock is down roughly 49.9% so far this year.

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