Mid cap stock jumps 7% after company signed contracts worth ₹ 7,550 Cr with ARAMCO 

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Mid cap stock jumps 7% after company signed contracts worth ₹ 7,550 Cr with ARAMCO 
Credit: © Reuters.

The shares of one of the largest specialized Engineering, procurement, and Construction (EPC) companies with a global presence jumped 7 percent in the day’s trade upon signing contracts worth Rs. 7,550 Crores with ARAMCO.

With a market capitalization of Rs. 20,533 Crores, the shares of Kalpataru Projects International Limited were trading at Rs. 1,264 up 5.70 percent from its previous day’s close price of Rs. 1,195.80.

In furtherance to the Press Release titled “Kalpataru selected for EPC contracts by Aramco (TADAWUL: 2222 ) for MGS‐3 PROJECT, Kalpataru Projects International Limited announced that on May 19th, 2024, it successfully signed three contracts with ARAMCO for the three packages of the third expansion phase of the Master Gas System Network (MGS‐3) in Saudi Arabia for a contract value of ~ SAR 3.4 Billion or Rs. 7550 Crore.

Kalpataru Projects International Limited is one of the largest specialized Engineering, procurement and Construction (EPC) companies engaged in Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Highways and Airports, Railways, Oil & Gas Pipelines, and Urban Mobility (Flyovers & Metro Rail),.

It has a global presence across 73 countries with live projects in 30+ countries and as of March 2024, it has a strong order book of Rs. 58,415 Crores, out of which 52 percent are Domestic orders and 48 Percent are International Orders

Its total order book breakdown from different business segments consists of, Transmission and distribution 35 percent, buildings, and factories 19 percent, water 18 percent, Railways 7 percent, Urban Infra 5 percent, and Oil & gas 16 percent.

Its revenue from operations grew by 22 percent from Rs. 4,882 Crores in Q4FY23 to Rs. 5,971 Crores in Q4FY24, accompanied by increasing profits of Rs. 140 Crores to Rs. 169 Crores.

Written by: Bharath K.S

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The post Mid cap stock jumps 7% after company signed contracts worth ₹ 7,550 Cr with ARAMCO appeared first on Trade Brains.

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