India's Kalpataru Projects hits record high on contact win worth $906 mln

Kalpataru Projects International

21/05/2024 04:59

** Shares of Kalpataru Projects International  KAPT.NS  rise
as much as 9.2% to a record high of 1,310 rupees
    ** Construction and engineering co says it got selected for
EPC contracts in Saudi Arabia by Aramco for Master Gas System
(MGS)‐3 project for a contract value of 75.5 bln rupees ($906.4
mln) 
    ** KAPT trading above its 200-day simple moving avg since
May 2023
    ** Thirteen analysts covering the stock on avg have a "buy"
rating; median PT is 1,241 rupees - LSEG data
    ** Stock up 7% so far in May, eyes eighth consecutive
monthly gain



($1 = 83.3000 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))