Kalpataru Projects hit fresh 52-week high on order win

Shares of Kalpataru Projects International soared as much as 8.17 per cent to hit a fresh 52-week high of Rs 723.50 per share.

The surge came after Kalpataru Projects announced that the company and its international subsidiaries have secured new orders worth Rs 2,263 crore.

Notably, the shares of the company have climbed over 22 per cent year to date (YTD).

The company has bagged orders in the T&D business of Rs 1,564 crore in India and overseas markets; second order in water business worth Rs 458 crore, and a few orders in B&F business of Rs 241 crores.

On securing the orders, Manish Mohnot, MD & CEO, KPIL, said, “We are delighted with the new order wins, particularly in our T&D business. The T&D business continues to witness strong traction in terms of both order inflows and tender pipeline. We expect the T&D business to be a significant growth driver for KPIL in coming years. Additionally, these T&D orders have strengthened our order book in India, Latin America, Africa and Sweden.”   

Mohnot added, “We continue to focus on strategic orders wins within our B&F and Water business with a focus to improve our market presence and deliver sustainable growth in these businesses. Our YTD FY24 order inflows stands at Rs 14,441 crore, providing improved visibility for future growth.”

As of 10:19 am, shares of the company were trading 3.02 per cent higher at Rs 689.05 per share.