Shares of KEC Worldwide Ltd, an RPG Group agency and a world infrastructure main, crashed 6% on 19 November after the corporate introduced on Tuesday, 18 November, that it had acquired a letter from Energy Grid Company of India Ltd (PGCIL) informing it that it had been barred from collaborating in PGCIL tenders and receiving contract awards for a interval of 9 months starting 18 November 2025.
Energy Grid Company of India’s motion stems from an alleged breach of contractual restrictions associated to a problem beforehand reported to the inventory markets on 24 March 2025. The enterprise acknowledged that the restriction is not going to have an effect on any current Energy Grid Company of India tasks which are already underway.
KEC Worldwide acknowledged that the corporate is contemplating completely different choices, together with authorized motion and petitioning the Energy Grid Company of India for reconsideration of the judgment. The corporate additionally acknowledged that it doesn’t anticipate any substantial impression on its operations or monetary place, noting a big order e-book and a strong tender pipeline.
The corporate asserted that it adheres to the best requirements of company governance, ethics, and compliance and conducts its operations with integrity, transparency, and conformity to relevant legal guidelines and laws.
At 12:51 pm, the shares of KEC Worldwide have been buying and selling 6.17% decrease at Rs 733.50 on NSE.
Prepared to take a position like a professional? Unicorn Indicators app equips you with 100+ Free instruments and data you’ll want to succeed. Obtain the Unicorn Indicators app and acquire entry to day by day inventory lists and insightful market evaluation and far more!
