Kalpataru Power is bright and shiny

Kalpataru Power is looking pretty lit up and bright today morning. The stock is up 4% at Rs.229, with an intra day high at Rs.239.70.

The stock has jumped on after it announced that it has secured new orders worth Rs.835 crore. On this Rs.355 crore is an order for construction of 400 kilovolt (KV) D/C transmission line of 213 kilometres in Kenya in joint venture.

Another Rs.184 crore worth order is for supplying and erecting package of 765 KV D/C Hyderabad GIS - Wardha Station Transmission Line (Part-III) from Power Grid Corp. There is also a Rs.125 crore order for supplying package of 765 KV D/C Jabalpur - Orai transmission line; once again from Power Grid. And there are also two railways orders, worth Rs.100 crore, to be executed in joint venture, from Central Organisation for Railway Electrification.

The company has said that its order book from within India is sluggish but pretty robust from Africa region. It is hoping, like all others, FY16 will see a new tide of things.

The company had ended Q3FY15 with a 9% (YoY) rise in total income at Rs.1158 crore and net profit was up 22% at Rs.41 crore.