Kalpataru Power has Surged 61% Since November and Brokerages are Still Bullish

  • Investing.com
  • Stock Market News
Kalpataru Power has Surged 61% Since November and Brokerages are Still Bullish
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Kalpataru Power Transmission Ltd. (NS: KAPT ) shares are on a roll. The stock has surged over 61% since the start of November and according to brokerages, it is not going to slow down anytime soon. Kalpataru Power is currently trading at Rs 403.4 compared to Rs 250 on October 30.

The EPC (engineering, procurement and construction) company was in the news yesterday after it won orders worth Rs 1,554 crore for power transmission from companies in India, South America and Europe. Its toral order book has got a massive boost and is now worth Rs 8,000 crore. The stock gained 21% in February and is up 6% in March so far.

HDFC (NS: HDFC ) Securities is very bullish on Kalpataru Power and has assigned a ‘buy’ rating for the stock along with a price target of Rs 536. That’s an upside of almost 33% from current levels. The brokerage firm says that the company is on track to hit zero debt status and is seeing traction in new markets.

The Middle East is opening up and countries in Africa have also started reopening economic operations. Kalpataru Power has bid for 9-10 projects in Africa as well.

ICICI Direct has a target of Rs 490 for the stock and Sharekhan is a little lower at Rs 485. Dolat Capital is the most conservative with a target of Rs 450 for Kalpataru Power.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles