30 Dec , 2021 By : monika singh
NEW DELHI – Shares of Kalpataru Power Transmission jumped 6 per cent in early trade on Thursday as the company bagged new orders worth Rs 1,560 crore.
The counter climbed to a high of Rs 377.80 as against Rs 356.70 at the previous close on the National Stock Exchange.
The orders are from India, Africa, the Commonwealth of Independent States and South America, while the company’s international subsidiary has secured new power transmission projects in Europe.
Earlier this month, Kalpataru Power Transmission (KPTL) and Techno Electric and Engineering Company (TEECL) (a joint-venture partner of KPTL) sold their respective stakes in Kohima-Mariani Transmission (KMTL) to CLP India (Apraava Energy), reports said.
In the July-September quarter, Kalpataru Power Transmission’s net profit declined 42.36 per cent to Rs 83 crore as against Rs 144.00 crore during the previous quarter ended September 2020.
Sales rose 17.05 per cent to Rs 3549.00 crore in the quarter ended September 2021 as against Rs 3032.00 crore during the previous quarter ended September 2020.
Kalpataru Power Transmissions’ key products and revenue segments include income from EPC (Engineering, Procurement and Construction) contracts, transmission lines, towers and structures, others, scrap, export incentives and other operating revenue.
Earlier this month, Emkay Global gave a buy call on the company with a target price of Rs 555. The time period given by the analyst for reaching the defined target was one year.
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