Shares of Kalpataru Power Transmission were under pressure for the second straight day on Thursday. The stock slipped 7 per cent to Rs 302 on the BSE in intra-day trade, thereby falling 15 per cent in two days after the company on Tuesday said its board approved capital expenditure (capex) for construction of corporate office of the company. The company is one of the largest specialized engineering, procurement, and construction (EPC) companies in India engaged in power transmission and distribution.
“The board of directors of the company has approved capital expenditure of approximately Rs 207 crore towards the purchase of land and will further incur approximately Rs 170 crore towards construction, municipal charges, taxes and for other approvals for development and construction of corporate office of about 1,79,000 square feet of leasable area near its existing office at Santacruz, Mumbai,”
