Kalpataru Power jumps on winning orders

Kalpataru Power Transmission rose 3.29% to Rs 453.55 at 11:19 IST on BSE after the company said it received new orders totaling Rs 875 crore.

Meanwhile, the S&P BSE Sensex was up 134.12 points, or 0.40% to 33,362.11.

On the BSE, 11,000 shares were traded in the counter so far, compared with average daily volumes of 17,000 shares in the past two weeks. The stock had hit a high of Rs 461.35 and a low of Rs 449 so far during the day. The stock hit a record high of Rs 473.60 on 27 November 2017. The stock hit a 52-week low of Rs 221 on 23 December 2016.

Kalpataru Power Transmission (KPTL), a leading global EPC player in the power and infrastructure contracting sector, said it secured new orders / notification of award of Rs 875 crore.

KPTL received two orders totaling Rs 278 crore for design, supply and construction of transmission lines in India. Separately, it received three orders totaling Rs 597 crore for design, supply and construction of transmission lines in Afghanistan, Ivory Coast and Bangladesh.

Commenting on the new order announcements, Manish Mohnot, managing director & CEO, KPTL said the company has received orders of Rs 5900 crore till date in the current financial year. The current orders are in the core transmission business, including an order from a private client in India. The firm has added one more country to its international operations, which will help it further strengthen its presence in the African market.

Net profit of Kalpataru Power Transmission rose 23.7% to Rs 71.49 crore on 9.6% rise in net sales to Rs 1222.80 crore in Q2 September 2017 over Q2 September 2016.

Kalpataru Power Transmission is amongst the largest players firmly entrenched in the global power transmission and infrastructure EPC space.

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