Shares of Kalpataru Projects International Ltd. (KPIL) surged more than eight percent to hit a record high of Rs 650.15 on Thursday after the company and its international subsidiaries bagged new orders worth Rs 2,261 crore.

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One of the orders is for the transmission and distribution business to the tune of Rs 2,036 crore in overseas markets while second one is a cross country oil and gas pipeline project worth Rs 225 crore in India, KPIL said in a disclosure to the stock exchanges.

"The new orders in the T&D business have strengthened our order book and improved our market position in the international markets. The Oil and Gas business continues to strengthen its order book with a new order from a very reputed client," Manish Mohnot, MD and CEO of KPIL, said.

In March, KPTIL and its international subsidiaries secured projects worth Rs 2,477 crore, and in February, Kalpataru Power bagged orders worth Rs 5,641 crore.

The company's year-to-date order intake reached a record level of Rs 25,149 crore, Mohnot had stated in March.

KPTL is one of the largest specialized EPC companies engaged in Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, and Urban Mobility (Flyovers & Metro Rail). The company is currently executing projects in more than 30 countries and has a global footprint in 70 countries.

Kalpataru Projects shares are currently trading 3.5 percent higher at Rs 622.85.

First Published:Jul 27, 2023 12:13 PM IST