Kalpataru Power surges over 6% on Rs 1,150-crore new orders

Shares of engineering firm Kalpataru Power Transmission Ltd (KPTL) today surged over 6% after the company bagged new orders of over Rs 1,150 crore in domestic and overseas markets.

Buoyed by the news, shares of the company jumped 6.15% to Rs 226 on BSE. At the National Stock Exchange (NSE), it soared 6% to Rs 226.90.

At 1322 hours, the company stock was dealing at Rs 217.80, slightly down from the day's high, but still up Rs 4.90 or 2.30% on BSE. At the National Stock Exchange, the stock was valued at Rs 218.75, up Rs 4.75 or 2.22%. 

"KPTL... has secured new orders/notification of award in excess of Rs 1,150 crore," the company said in a BSE filing today.

Detailing on the projects, the company said it has bagged a Rs 930-crore project for construction and supply of 225 kV and 90 kV overhead transmission lines in West Africa.

"The project has been awarded to KPTL and its wholly-owned subsidiary Kalpataru Power DMCC and will be delivered by respective entities," it added.

The second order is the construction of 220 kV and 132 kV sub-stations, transmission lines and feeder bay work of Rs 220 crore from Madhya Pradesh Power Transmission Company.