Kalpataru Power surges 3% on Rs 1,200 crore orders

NEW DELHI: Shares of Kalpataru Power Transmission Limited (KPTL) on Thursday climbed over 3 per cent after the company said it has bagged new orders worth Rs 1,200 crore.

In a filing to BSE, the company informed stock exchanges that the orders include a Rs 402-crore transmission line turnkey project by Transmission Corporation of Telangana Limited (TSTRANSCO), the company statement said.

It has also bagged a Rs 336 crore transmission line turnkey project in Abu Dhabi, the company informed bourses. Besides, a JV consortium of KPTL, JMC and STS has bagged Rs 464 crore railway infrastructure construction project in Hyderabad (Telangana) for Railways Vikas Nigam Limited (RVNL).

Following the announcement, the stock rose 3.4 per cent to hit a high of Rs 319.9 on BSE.

MD and CEO Manish Mohnot said that his company is targeting profitable growth with orders across business segments.

“Our order book provides good visibility of achieving 15-20 per cent growth in next year,” Mohnot said, adding that the company continues to build portfolio of projects in railways EPC sector,”

KPTL is an EPC firm engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business.