India's Kalpataru Projects hits record high on Aramco order win

Kalpataru Projects International

05/03/2024 04:31

** Shares of Kalpataru Projects International Ltd  KAPT.NS 
rise as much as 4.5% to a record high of 1,043.70 rupees
    ** Co says got letter of intent from Saudi's Aramco for
carrying out engineering, procurement and construction work for
expanding a project in Saudi Arabia
    ** Stock on track to gain for fourth straight day
    ** Stock trading above its 200-day simple moving avg since
May 30, 2023 
    ** Mean rating of 13 analysts rating the stock is 'buy';
their median PT is 936.50 rupees, 11.5% down from record high -
LSEG data
    ** KAPT last up 1.1%, adding to YTD gains of ~42%

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))