The stock of Kalpataru project soared above 5 per cent in the Tuesday trading session after the firm bagged Rs 7,550 crore mega order from a Saudi Arabian company.
Kalpataru Project stock traded at Rs 1,261 with 5.22 per cent gain in the afternoon session on the National Stock Exchange (NSE).
”We are pleased to inform you that on 19 May 2024 the Company has successfully signed three contracts for the three packages of the third expansion phase of the Master Gas System Network (MGSâ€3) in Saudi Arabia with ARAMCO for a contract value of SAR 3.4 billion (Rs 7,550 crore),” said Kalpataru in an exchange filing.
Earlier this month, Kalpataru Project also secured the board’s approval to raise upto Rs 1 billion through a rights issue for its subsidiary Shree Shubham Logistics.
In terms of stock performance, the Kalpataru Project stock delivered more than 78 per cent year-to-date (YTD) returns reflecting the strong surge in energy stocks where Nifty Energy index has surged more than 22 per cent in the same period.
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