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Kalpataru Power stock rises over 2% after firm bags orders worth Rs 979 crore

BusinessToday.In     December 31, 2019

Kalpataru Power share price rose in early trade today after the firm said it bagged orders worth approximately Rs 979 crore in the transmission and distribution (T&D) segment and for railway electrification and gauge conversion.

Share price of Kalpataru Power gained up to 2.41% to Rs 410.85 compared to the previous close of Rs 401.20 on BSE. Kalpataru Power stock has gained 4% since the beginning of this year and during last one year.

"Kalpataru Power Transmission Ltd (KPTL) has secured new orders/notification of award of approximately Rs 979 crore. The company's international subsidiary secured new T&D projects in Europe," it said in a filing to bourses.

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The firm has bagged orders from the country and Middle East in transmission and distribution business and engineering, procurement and construction projects for railway electrification and gauge conversion works in India, as per the filing. 5,340 shares of the firm changed hands on BSE amounting to turnover of Rs 0.21 crore.

Its market capitalisation rose to Rs 6,312 crore on BSE. The mid cap stock hit its 52-week high of Rs 553.50 on July 1, 2019 and 52-week low of Rs 327.40  on February 19, 2019. On the BSE counter, there were 10,201 buyers compared to 6,795 sellers for the stock.

Kalpataru Power Transmission is an engineering, procurement and construction (EPC) contracting company. The company manufactures metal frameworks or skeletons for construction and parts, such as towers, masts, trusses and bridges. Its segments include transmission and distribution, infrastructure EPC and others. It offers solutions in fields of power transmission, infrastructure and asset creation. The firm has interest in power transmission and distribution, oil and gas pipeline, railways, infrastructure development, civil contracting and agri-commodity (post-harvest) logistics.

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