Kalpataru Power surges 12% on order win worth Rs 8.71 billion

The stock surged 12% to Rs 535 on BSE in early morning trade after the company announced that it has secured new orders worth of Rs 8.71 billion.

Kalpataru Power Transmission surged 12% to Rs 535 on BSE in early morning trade after the company announced that it has secured new orders worth of Rs 8.71 billion.

“The company has bagged order for design, supply and construction of substations and associated transmission line work from APTRANSCO for Rs 2.82 billion,” the company a leading global EPC player in the power and infrastructure contracting sector said in a release.

The company has bagged an order 400kV double circuit transmission line from Power Grid Company of Bangladesh and an order for 132 kV Transmission Line from Nepal Electricity Authority totaling approximately Rs 1 billion.

It has bagged order worth of Rs 1.23 billion from CORE for design, supply, erection, testing & commissioning of railway electrification work. The company also bagged order pipeline augmentation work in Rajasthan for Rs 3.66 billion from a private client, it added.

Manish Mohnot, Managing Director & CEO, KPTL said, "The cumulative order intake from these businesses this year has exceeded Rs 26 billion. This will provide further impetus for growth in the next year."

At 09:27 AM; the stock was up 10% at Rs 526 on BSE, as compared to 0.51% rise in the S&P BSE Sensex. A combined 377,074 shares changed hands on the counter on BSE and NSE so far.