Kalpataru Power's stock zooms 4% on bagging order worth Rs3,276cr

10 Mar 2022 , 09:24 AM

In its press release dated March 10, 2022, Kalpataru Power Transmission Limited (KPTL), a leading global EPC player in the power and infrastructure contracting sector has received a Letter of Intent (LoI) for a Power Transmission and Distribution project in the international market. The LoI is for a prestigious project involving the design, engineering, supply, and construction of an HVDC power transmission line of ~700 km. The estimated value of the project stands at Rs3,276 Crores (USD 431 Million).

The company will start the project immediately with design and engineering activities in Phase I.

Commenting on the development, Mr. Manish Mohnot, Managing Director & CEO, KPTL said “We feel privileged to announce the receipt of the above-mentioned LoI. This landmark achievement has been on several counts – intensive efforts that we have been putting in over the last several years on large-size projects for long-term value creation, developing strong client relationships, and penetrating deeper into the focused markets on the back of our strong technical and execution capabilities.

He further added, “This is also a hugely rewarding experience as we were working along with the same clients for the past few years and is a testament for our quality solutions and expertise in power T&D business. We look forward to many such opportunities in the future.”

KPTL is currently trading at Rs393.20 up by Rs15.7 or 4.16% from its previous closing of Rs377.50 on the BSE. The scrip opened at Rs403.70 and has touched day’s high and low of Rs403.70 and Rs390 respectively so far.