Kalpataru Power Transmission surges as its arm acquires Swedish firm Linjemontage i Grastrop
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Kalpataru Power Transmission is currently trading at Rs. 364.55, up by 8.80 points or 2.46% from its previous closing of Rs. 357.75 on the BSE.
The scrip opened at Rs. 360.00 and has touched a high and low of Rs. 371.45 and Rs. 360.00 respectively. So far 1943 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 495.95 on 03-Aug-2021 and a 52 week low of Rs. 332.30 on 11-May-2022.
Last one week high and low of the scrip stood at Rs. 371.45 and Rs. 345.00 respectively. The current market cap of the company is Rs. 5327.23 crore.
The promoters holding in the company stood at 51.58%, while Institutions and Non-Institutions held 41.10% and 7.32% respectively.
Kalpataru Power Transmission’s wholly owned subsidiary -- Kalpataru Power Transmission Sweden AB (KPT Sweden) has completed the acquisition of remaining 15% equity stake of Linjemontage i Grastrop AB, a Swedish EPC Company (LMG) headquartered in Grastrop, Sweden. LMG also has two WOS.
The cost of acquisition is $11.5 million (around Rs 91 crore). The acquisition will further strengthen the company's position in the Nordic market. Sweden and Norway are very attractive markets for Transmission line infrastructure since they have the oldest grid network. The company shall gain from the increased investments towards grid Infrastructure and renewable energy into the Nordic markets.
Kalpataru Power Transmission is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution.
