KP Green Engineering shares hit upper circuit after orders worth ₹351 crore

Shares of steel products maker KP Green Engineering Limited hit their upper circuit on Thursday, June 6, after the company bagged multiple orders worth ₹351 crore.

The stock was trading at ₹579.6 apiece, up 5%, on the BSE. The total market capitalisation of the company stood at ₹2,898 crore.

KP Green Engineering has received new orders amounting to ₹351.35 crore, as per a BSE filing. These orders include solar projects valued at ₹212.38 crore, including fixed-tilt module mounting structure, supply of tracker type module mounting structure and structure part.

It will also establish transmission line towers worth more than ₹79.51 crore, including equipment for 220 kilovolts (kV) to 400 kV tower material, 33 kV and 66 kV substation equipment structure, hardware, cable trays, GI strip material and GI structure for isolators.

Moreover, the company got projects worth ₹52.54 crore for a 180 megawatt (MW) pooling substation project and a 33 kV line supply.

The firm said that all new orders will be executed within the current financial year.

KP Green Engineering makes fabricated and hot-dip galvanised steel products, including substation structures, lattice tower structures, solar module mounting structures, earthing strips, beam crash barriers, cable trays, and other infrastructure solutions.

The company's stock debuted on the BSE SME platform in March at a premium of 38.8%. The scrip was listed at ₹200 against the issue price of ₹144. During the three-day trading window, the issue was subscribed 19.67 times.