Kalpataru Power shares surge 9% on securing orders worth Rs 1,320 crore

By: | Published: March 23, 2016 10:19 AM

Kalpataru Power Transmission shares surged as much as 9 per cent in the early trade on Wednesday after the company said it has secured orders worth Rs 1,320 crore from Power Grid Corp.

Kalpataru Power, BSE Sensex, NSE NiftyKalpataru Power Transmission shares surged as much as 9 per cent in the early trade on Wednesday after the company said it has secured orders worth Rs 1,320 crore from Power Grid Corp. (Express Photo)

Kalpataru Power Transmission shares surged as much as 9 per cent in the early trade on Wednesday after the company said it has secured orders worth Rs 1,320 crore from Power Grid Corp.

At 10 am, shares of Kalpataru Power were trading 7.49 per cent up at Rs 220.20. The scrip opened at Rs 220 and has touched a high and low of Rs 223.70 and Rs 216.15, respectively, in trade.

The order includes a transmission line supply project for Gadarwara-Warora Transmission Line Project of approx Rs 353 crore from Powergrid Warora Transmission and an order of transmission line supply project for ultra mega solar park transmission system in Andhra Pradesh of Rs 77 crore a Rs 44 crore for a substation project.

The order also includes turnkey transmission line project of 765 KV Vemagiri-Chilakaluripeta of about Rs 778 crore from Powergrid Southern Interconnector Transmission System Ltd, a wholly-owned subsidiary of Power Grid Corp.

Besides, the company also got turnkey transmission line project of Rs 73 crore in Abu Dhabi.

The order has taken the order book value to over Rs 7,450 crore in 2015-16 with around 55 per cent contribution from domestic transmission business, 10 per cent from domestic infrastructure business and balance from international markets.

For the quarter ended Dec 2015, Kalpataru Power reported net profit of Rs 38.11 crore, down 7.11 per cent, against Rs 40.99 crore in the same quarter last year.

In the past one year, the share price of Kalpataru Power slid 2.66 per cent to Rs 204.85 till March 22, whereas BSE Sensex plunged 10.15 per cent during the period.

 

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