Kalpataru Power Transmission receives LoI for Rs. 3276 crores project

Kalpataru Power Transmission Limited (KPTL), a leading global EPC player in the power and infrastructure contracting sector 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.

Commenting on the development, Mr. Manish Mohnot, Managing Director & CEO, KPTL said "We feel privileged to announce the receipt of the above mentioned LoI. This landmark achievement has been on several counts - intensive efforts that we have been putting in over last several years on large size projects for long-term value creation, developing strong client relationships and penetrate deeper into the focused markets on back of our strong technical and execution capabilities.

This is also a hugely rewarding experience as we were working along with the same clients for past few years and is a testament for our quality solutions and expertise in power T&D business. We look forward to many such opportunities in future."

Shares of Kalpataru Power Transmission Limited was last trading in BSE at Rs. 377.50 as compared to the previous close of Rs. 381.40. The total number of shares traded during the day was 51206 in over 1715 trades.

The stock hit an intraday high of Rs. 392.00 and intraday low of 375.00. The net turnover during the day was Rs. 19626207.00.

Source : Equity Bulls

Keywords

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