Kalpataru Projects surges 4% on winning orders worth Rs 2,217 crore

Kalpataru Projects surges 4% on winning orders worth Rs 2,217 crore

The new orders are secured by Kalpataru’s transmission and distribution (T&D) and building and factories (B&F) segments

Shares of the company have also surged around 19 percent in the past three months on the back of its consistent order wins.

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Kalpataru Projects International share surged 4 percent in the early trade on October 16 after the company announced bagging orders worth Rs 2,217 crore.

The orders were secured by Kalpataru’s transmission and distribution (T&D) and building and factories (B&F) segments. While the T&D segment got Rs 1,993 crore worth of orders, the B&F business’s orders stood at Rs 224 crore.

“We are delighted with the significant order wins, resulting in our total
order inflows reaching Rs 10,616 crores in the current financial year. Our flagship T&D business has secured noteworthy order inflows of around Rs 5,400 crores till date in FY24, which provides good visibility for growth going forward,” Kalpataru Projects MD & CEO Manish Mohnot said in an exchange filing.

“We also have the lowest bidder position for projects worth about Rs 4,000 crores largely spread across T&D, B&F and Water businesses,” Mohnot added.

At 10.18 am, Kalpataru Projects was trading at Rs 670.05 on the National Stock Exchange, 1.7 percent higher from the previous day.

Volumes also remained high as two lakh shares changed hands on the exchanges against 100,000 in the previous session.

The stock has surged around 19 percent in the past three months on consistent order wins.

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The company had also bagged orders worth Rs 1,016 crore in September end. Out of the total, Kapataru’s T&D business had received orders worth Rs 552 crore in India and overseas markets, while its B&F vertical bagged orders worth Rs 464 crore in India.

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