Kalpataru Projects shares rise 3% on new orders worth ₹2,333 crore

Shares of leading EPC player Kalpataru Projects International Ltd (KPIL) spurted up to 3% on Tuesday after the company announced it had bagged new orders worth ₹2,333 crore.

The company informed bourses that Kalpataru Projects International Ltd along with its joint ventures and international subsidiaries have bagged new orders or notification of awards of ₹2,333 crore.

The new orders include projects in the transmission and distribution business in India and overseas markets. The company has also bagged a residential building order in the domestic market and an EPC order for an industrial plant in the metal industry.

Kalpataru Projects MD and CEO Manish Mohnot said that the new orders in the T&D business include its largest order in Sweden secured through its subsidiary, LMG.

He said the B&F business has secured an EPC order in the metal industry from a prestigious client in India.

“The orders in the T&D business have enhanced our order book, thereby improving the growth visibility for the T&D business going forward,” Mohnot said.

KPIL is a specialised EPC company engaged in power transmission & distribution, buildings & factories, water supply & irrigation, railways, oil & gas pipelines, urban mobility (flyovers & metro rail), highways and airports.

In March, KPIL announced bagging orders worth ₹2,071 crore through its JVs and international subsidiaries. The new work pertained to transmission and distribution projects abroad, and the design and construction of a metro rail project in India.

Kalpataru Projects shares rose 3.33% to a high of ₹1,213 on the NSE in morning deals. Nearly 8 lakh shares of the company changed hands on the bourse. KPIL shares were trading 0.38% lower at ₹1,168.10 at 1:05 PM.

Kalpataru Projects shares have rallied around 63% in 2024 so far. While in the past year, the stock has given high returns of around 123%.