Kalpataru Power Transmission rose 2.39% to Rs 444.10 at 14:58 IST on BSE after the company said it acquired 85% stake in Sweden's Linjemontage i Grastorp AB for an enterprise value of $24 million.The announcement was made after market hours yesterday, 25 March 2019.
Meanwhile, the S&P BSE Sensex was up 395.28 points, or 1.05% to 38,204.19.
On the BSE, 7542 shares were traded in the counter so far compared with average daily volumes of 7159 shares in the past two weeks. The stock had hit a high of Rs 452.90 and a low of Rs 442 so far during the day. The stock hit a 52-week high of Rs 507 on 7 May 2018. The stock hit a 52-week low of Rs 268.50 on 29 October 2018.
Kalpataru Power Transmission (KPTL), through its wholly owned subsidiary, Kalpataru Power Transmission Sweden AB signed definitive agreement to acquire 85% stake in Linjemontage i Grastorp AB for an enterprise value of $24 million. The transaction expected to close in Q1 FY2020.
Founded in 1993, Linjemontage specializes in engineering, procurement and construction (EPC) and operations and maintenance (O&M) in power supply solutions and services for electricity networks up to voltage range of 400 kV. The company has three main business areas, comprising of EPC of substation, transmission & distribution networks and O&M of electricity network services. Linjemontage order book as on date is $77 million spread across Sweden and Norway.
Net profit of Kalpataru Power Transmission rose 22.30% to Rs 92.01 crore on 21.68% rise in net sales to Rs 1724.66 crore in Q3 December 2018 over Q3 December 2017.
Kalpataru Power Transmission (KPTL) is amongst the largest players firmly entrenched in the global power transmission and infrastructure EPC space.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)