Kalpataru Projects rises 9% on emerging lowest bidder for Aramco's gas system project

Kalpataru Projects rises: Engineering and construction company Kalpataru Projects International shares rose as much as 9.03 per cent to hit an intraday high of Rs 1,024.65 per share. 

The surge came after Kalpataru Projects, along with Larsen and Toubro (L&T), emerged as the lowest bidders for Aramco’s Master Gas System Project. Notably, both the companies are among 10 companies selected for the $10 billion MGS-3 project. 

Meanwhile, the construction company emerged as the lowest bidder for 3 packages and Larsen and Toubro (L&T) for 1 package.

Notably, the stocks have climbed 36.63 per cent in the past month. The stocks jumped over 91 per cent in 2023. 

As of 12:49 pm, the stocks of the company were trading 4.43 per cent to Rs 981.35 per share.