Kalpataru Power Jumps Over 7%, Nears 52-Wk High on Multiple Order Wins

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Kalpataru Power Jumps Over 7%, Nears 52-Wk High on Multiple Order Wins
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the construction engineering company Kalpataru Power (NS: KAPT ) Transmission (KPTL) jumped over 8% on Tuesday and were last seen trading 7.3% higher at Rs 433.5 apiece, nearing its 52-week high of Rs 452.65/share, achieved on Oct 18, 2021.

The stock jumped after the company announced in a regulatory filing that it along with its international subsidiaries bagged multiple orders worth Rs 1,345 crore.

The EPC bellwether has won orders in the country and international markets in its transmission and distribution (T&D) line. Kalpataru Power has also received orders for pipeline laying works in joint ventures or in a consortium.

The EPC giant has also won an order for metro rail electrification in the country, in JVs or in a consortium.

The company’s MD & CEO Manish Mohnot has stated that the wins in the T&D and pipeline business has further consolidated Kalpataru Power’s order book, thereby establishing its leadership in key markets.

He also added that receiving the metro rail electrification order for the second time, bolsters the company’s Railways business in new and emerging infrastructure segments.

“These orders along with the existing order book reaffirm our confidence to achieve targeted growth going forward,” Mohnot commented.

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