Kalpataru 'powers' up to new high
Kalpataru Power which has been hitting a new high since 28th March, today too, did not disappoint and hit a new 52-week high at Rs.1012.75, with volumes rising almost 2.5 times.
There is so much activity in the stock on company’s announcement that it had bagged orders worth Rs.700 crore. The orders are in for the transmission and infra segments. The major bulk of the order, around Rs.350 crore worth of order has come in from Power Grid Corporation to supply and erect 765 KV double circuit Solapur-Aurangabad transmission line of 140km in Maharashtra. It has also secured orders to the tune of Rs.134 crore from Saudi Arabi and Ethiopia.
Apart from the general euphoria surrounding Gujarat based companies, the bagging of such large orders is being viewed as a bounce back for the sector and the company.