Shares of Kalpataru Projects International surged over 5% on trading session of May 21 after company on Monday said it has bagged three contracts worth 3.4 billion Saudi Riyal (SAR) or Rs 7550 crore from Aramco to expand gas supply network in Saudi Arabia.
In March, Kalpataru Projects International Ltd (KPIL), formerly Kalpataru Power Transmission, announced that it received a Letter of Intent (LoI) from Saudi Arabia’s energy major Aramco, for carrying out EPC work for three packages of the third expansion phase of the Master Gas System Network (MGS-3) in the country.
The company signed the three contracts for a contract value of SAR 3.4 billion on Sunday, KPIL said in a regulatory filing.
As of 10:07 am the shares were trading 5.31% higher at ₹1,262.85 on NSE.
