Kalpataru 'Powers' up

Yesterday, it was the subsidiary, JMC Projects, which stole the limelight and today, it is the parents turn to bask in its glory. Kalpataru Power Transmission is up over 7% at Rs.220 level currently and this is after an intra day high at Rs.223.70, up 9%. Volumes are up almost 5 times.

Like the subsidiary, here too the news is about order receipt. It has got new orders worth over Rs.1320 crore. This includes two orders from Powergrid of Rs.778 crore and Rs.353 crore each. It has got another Rs.77 crore worth of order for Ultra mega solar park transmission system in Andhra Pradesh and substation project worth Rs 44 crore from Power Grid. There is also the order from Abu Dhabi worth Rs.73 crore.

The company has said that it has got orders in excess of Rs.7450 crore in FY16 with 55% coming from domestic infrastructure business and balance from international markets.