Monday, 23 January 2017

India's Kalpataru Power gains on new orders worth over $121 mln

Shares of power distributor and infrastructure developer Kalpataru Power Transmission Ltd rise as much as 4.4 pct to 276.00 rupees. Company received new orders worth over 8.25 bln rupees ($121.24 million).

** Orders include transmission lines and substation projects in Africa and CIS (Commonwealth of Independent States, a group of former Soviet republics), two pipeline projects from Indian Oil Corp and Gail (India), and railway project by Central Organization for Railway Electrification (CORE)

** Kalpataru says it continued to get repeat orders from the Africa region and expected to close the year with a healthy order book

** Stock had risen 40.6 pct over the last 12 months as of last close ($1 = 68.0450 Indian rupees)

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