Income Tax department has conducted searches at premises of Kalpataru Group in Rajasthan and Mumbai.
Usually, promoters selling a stake in a company is considered lack of confidence in the business and leads to selling in stock markets. However, investors have disregarded the sale, and continued to buy stock.
Usually, the Promoter selling stake in the company is seen as a negative by the market.
Emkay Global Financial is bullish on Kalpataru Power has recommended buy rating on the stock with a target price of Rs 701 in its research report dated May 10, 2023.
Emkay Global Financial is bullish on Kalpataru Power has recommended buy rating on the stock with a target price of Rs 701 in its research report dated February 10, 2023.
The orders in India and overseas markets are in the electricity transmission and distribution business, the company said in a regulatory filing
Emkay Global Financial is bullish on Kalpataru Power has recommended buy rating on the stock with a target price of Rs 565 in its research report dated November 13, 2022.
Emkay Global Financial is bullish on Kalpataru Power has recommended buy rating on the stock with a target price of Rs 500 in its research report dated May 16, 2022.
Anand Rathi is bullish on Kalpataru Power has recommended buy rating on the stock with a target price of Rs 427 in its research report dated May 16, 2022.
Net Sales are expected to increase by 5.5 percent Y-o-Y (up 30 percent Q-o-Q) to Rs. 2103.6 crore, according to ICICI Direct.
According to the company's statement, the orders include those from India, Africa, CIS and South America in the power transmission business.
ICICI Direct is bullish on Kalpataru Power has recommended buy rating on the stock with a target price of Rs 550 in its research report dated August 05, 2021.