Kalpataru Power, which had closed yesterday at Rs.377.50, opened today at Rs.403.70 on the back of a 1.5-times rise in volumes. Its 52-week high stands at Rs.495.95.

The company announced today morning that it has received a Letter of Intent (LoI) for Power Transmission and Distribution project in international market.

The LoI is for a prestigious project involving design, engineering, supply and construction of HVDC power transmission line of 700 kms.

The estimated value of the project stands at Rs.3,276 crores (USD 431 Million). The LoI is subject to fulfilment of certain conditions.

The project will start immediately with design and engineering activities in Phase 1.