India's Kalpataru Projects surges to record high on order wins

Kalpataru Projects International

29/12/2023 04:24

** Shares of Kalpataru Projects International Ltd  KAPT.NS 
rise as much as 10.3% to record high of 725 rupees
    ** Co says it got new orders worth 32.44 bln rupees ($390.21
million) in buildings and factories business, electric mobility
business, and transmission and distribution business
    ** Stock on track to rise for 4th straight day
    ** Stock to see best weekly gain since week ended Feb. 5,
2021, if trend holds
    ** Stock trading above its 200-day simple moving avg since
May 30
    ** Around 2.4 mln shares traded so far this week, out of
which more than 1.7 mln shares traded today as of 9:44 a.m. IST
    ** 11 of 12 brokerages rate the stock "buy" or higher and 1
"hold"; their median PT is 740 rupees - LSEG data
    ** KAPT last up 8.6% adding to YTD gains of 27.7%, on track
for third consecutive yearly rise 


($1 = 83.1350 Indian rupees)

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