Kalpataru Projects Shares Jump On 2774 Cr Order Win, Motilal Oswal Gives Buy Call

Mid cap company operating in the power sector, Kalpataru Projects International Ltd (KPIL) shares prices today witnessed rally after the company bagged orders worth 2774 crore. Current market price of KPIL share price on BSE is Rs 1366.15 per share. Kalpataru Projects International shares witnessed rally of 90% so far this year and gained 114% in last 1-year. The company's market capitalisation stood at Rs 22,185.27 crore. The company declared Rs 8 per share dividend in 2024 and shares traded ex-dividend on June 28, 2024. Check details below:

Kalpataru Projects International Bags New Orders: As per the regulatory filing of Kalpataru Projects International dated September 12, 2024, "Kalpataru Projects International Limited (KPIL), one of the largest Engineering & Construction companies listed in India along with its international subsidiaries have secured new orders/notification of awards of Rs 2,774 crores.

The details of the aforesaid new orders are as follows:

Orders in the Transmission & Distribution (T&D) business in overseas markets

EPC project for Extension of Airport from Airports Authority of India (AAI)

Design & Build project for residential building in India.

Manish Mohnot, MD & CEO, KPIL, said, "We are pleased with the continuous ordering momentum especially in our Transmission & Distribution (T&D) and Buildings and Factories (B&F) business. The prestigious order from Airports Authority of India (AAI) will mark our entry in the growing domestic airport sector and further diversifies our clientele. The orders in the T&D and B&F business have further enhanced our market position and significantly strengthen our order book, thereby improving the growth visibility for these businesses going forward."

With the above order wins, our YTD order intake has reached around ₹ 9,800 Crores and additionally we have a greater business visibility. We continue to focus on delivering sustainable growth and improved profitably going forward, added Manish Mohnot.

Kalpataru Projects International Dividend In 2024: As per the BSE filing of Kalpataru issued as on June 18, "In respect of Final Dividend for FY 2023-24 of Rs. 8/- per Equity share (400%) recommended by the Board of Directors at its meeting held on May 08, 2024 and pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, June 28, 2024 as the "Record Date".

Kalpataru Projects International Share Performance: Kalpataru Projects shares gave return of 29% in last 6-months, soared 91% year-to-date (YTD), gained 222% in last 2-years. KPIL shares jumped 193% in last 5-years and rose 670% in last 10-years. The 52-week high price of Kalpataru Projects International share is Rs 1449.15 per share (as on 06/09/2024) and 52-week low price is Rs 601.25 per share (as on 07/11/2023), respectively.

Should You Buy Kalpataru Projects Shares? Motilal Oswal has recommended buy call for Kalpataru Projects shares with target price of Rs 1385 per share.

Meanwhile, A R Ramachandran, Independent SEBI Research Analyst said, "Kalpataru Projects stock price is bearish on the Daily charts with strong resistance at 1415. A Daily close below support of 1340 could lead to a target of 1252 in the near term."

About: KPIL is one of the largest specialized EPC companies engaged in Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility (Flyovers & Metro Rail), Highways and Airports. KPIL is currently executing projects in over 30 countries and has a global footprint in over 70 countries. KPIL has maintained a leadership position in all its major businesses backed by strong organisational capabilities, superior technical know‐how, and adherence to best‐in‐class sustainability standards.

Disclaimer:

The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.