/ Kalpataru Power Sizzles Nearly 7% On Securing New Order ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 29 March 2017

A global EPC player in the power and infrastructure contracting sector, Kalpataru Power Transmission on Wednesday announced that it has secured new orders worth Rs 1200 crore.

The stock on the NSE sizzled nearly 7% soon after the company filed the press release to the Exchanges. The stock hit its 52-week high of Rs 304.40 per share, and witnessed a huge spurt in volume by more than 4.82 times.

The Company has received an order from Transmission Corporation of Telangana Limited (TSTRANSCO) for transmission line turnkey project worth Rs 402 crore, in Hyderabad. The second project is awarded to a JV consortium of KPTL, JMC and STS. The project is for railway infrastructure construction project in Hyderabad for Railway Vikas Nigam Limited (RVNL). The project is worth Rs 464 crore.

Whereas, the third project is worth Rs 336 crore in Abu Dhabi for transmission line turnkey project. Kalpataru Power Transmission Ltd is currently trading at Rs 308, up by Rs 18.15 or 6.26% from its previous closing of Rs 289.85 on the BSE.

The scrip opened at Rs 290.05 and has touched a high and low of Rs 314.95 and Rs 290.05 respectively. So far 546553(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4448.05 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 299.85 on 14-Feb-2017 and a 52 week low of Rs 197 on 29-Mar-2016. Last one week high and low of the scrip stood at Rs 292.85 and Rs 280.15 respectively. The promoters holding in the company stood at 59.45 % while Institutions and Non-Institutions held 27.75 % and 12.8 % respectively. The stock is currently trading above its 50 DMA.

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