Moneycontrol Bureau
Investors lapped up shares of Kalpataru Power Transmission (KPTL) on Thursday on bagging new orders worth about Rs 560 crore. The stock gained more than 8 percent to touch a five-year high of Rs 233.25 on the Bombay Stock Exchange.
It received two contracts from Power Grid Corporation of India. The first order valued at Rs 237 crore was related to two transmission lines (in Kargil) and the second order valued at Rs 190 crore was for supply, erection and commissioning of three transmission lines of 400 KV near Agra.
Besides, the company also got a pipeline laying project worth Rs 132 crore from Indian Oil Corporation.
"We have gained good traction in domestic business in both transmission line and pipeline laying segments and are expecting improved order inflow from both domestic and international business in the last quarter of the year," said Ranjit Singh, managing director of the leading EPC player engaged in diverse segments including power transmission and distribution.
At 11:00 hours IST, the stock was quoting at Rs 227.10, up Rs 11.75, or 5.46 percent on the BSE.
Posted by Sunil Shankar Matkar
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