Kalpataru Projects bags Rs 2261 cr of orders, stock hits 52-week high
In June, company secured new orders worth Rs 1,008 crores.
Kalpataru Projects International
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Kalpataru Projects International shares jumped 8 percent to hit a 52-week high of Rs 650.15 on July 27 after the company said it has won orders worth Rs 2,261 crore.
At 10:17 hrs Kalpataru Projects International was quoting at Rs 626.80, up Rs 25.40, or 4.22 percent on the BSE.
Kalpataru Projects International Limited (KPIL) & its international subsidiaries have secured new orders/notification of awards of Rs 2,261 crore including orders in the T&D business of Rs 2,036 crore in overseas markets and cross-country oil & gas pipeline project in India of Rs 225 crore.
“The new orders in the T&D business have strengthened our order book and improved our market position in the international markets. The Oil & Gas business continues to strengthen its order book with a new order from a very reputable client. These orders will significantly contribute towards our targeted growth going forward,” said Manish Mohnot, MD & CEO, KPIL.
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On July 11, the company’s wholly-owned subsidiary, Kalpataru Power Do Brasil Participações Ltda. (KPBPL), Brazil had acquired a balance 49 percent equity stake in Fasttel Engenharia S.A., Brazil, and raised the total stake to 100 percent
The acquisition will further strengthen KPIL’s position in the Brazilian and Latin American markets. Brazil and Latin America are very attractive markets for T&D infrastructure since a lot of projects are being launched in said markets. The company shall gain from the increased investments and upcoming auctions in the local market, said Kalpataru Power.
In June, the company secured new orders worth Rs 1,008 crores including orders in the T&D business of Rs 635 crores in India and overseas markets and civil works for buildings in India of Rs 373 crore.