Shares of Kalpataru Power Transmission, a leading EPC player in power and transmission contracts, surged over 9% in trade on Wednesday when the corporate bagged orders worth Rs 1,320 crore from power grid Corporation.
The order includes a transmission line supply project for Gadarwara-Warora transmission line Project of approx Rs 353 crore from Power grid Warora Transmission and an order of transmission line supply project for ultra mega star park transmission system in Andhra Pradesh of Rs 77 crore a Rs 44 crore for a substation project.
The order additionally includes turnkey transmission line project of 765 kv Vemagiri-Chilakaluripeta of regarding Rs 778 crore from Powergrid Southern Interconnector transmission system Ltd, a wholly-owned subsidiary of power grid corporation.
Besides, the corporate additionally 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% from domestic infrastructure business and balance from international markets.
Reacting to the development, the scrip gained 9.20 per cent to hit a high of Rs 223.70 on the BSE. The stock is down 14 per cent for the year to date and is trading 17.30 times its trailing basis.
The multiple orders that includes transmission line supply project for Gadarwara- Warora transmission line project worth Rs 353 crore. in addition to that, it has bagged a turnkey transmission line project of 765 kv Vemagiri-Chilakaluripeta of Rs 778 crore from Power Grid's southern division.
