KEC International on Tuesday announced the launch of Qualified Institutional Placement. Giving this information to the stock market, the company said that the Committee of Directors approved the launch of QIP in the meeting held on 24 September 2024 and announced a floor price of Rs 976.64 per share for the issue. The company also said that the company can offer a maximum discount of 5 percent on the floor price of the issue. In Tuesday's trading, the stock of KEC International closed at 983 with a gain of more than 4 percent.

The rise in the stock in Tuesday's trading was due to the company getting a big order. The company had informed on Monday that it has received orders worth Rs 1003 crore for different business verticals railways, civil works and cables. The railway division has received orders for tunnel ventilation in India, while orders related to civil and mechanical work have also been received in the country's steel plants. In the first 6 months of the current financial year, the company has received orders worth Rs 12300 crore. This order book is equal to 70 percent of the order book of the entire last financial year. However, earlier rating agency CARE Ratings has downgraded the rating of the company's long and short term bank facility.

In Tuesday's trading, the stock closed at 983.45 with a gain of more than 4 percent. The stock's highest level of the year is 1039 and the lowest level is 551. A year ago, the stock was trading around 650 levels. The company had recorded its highest level of the year on the 6th of this month.