The shares of Kalpataru Power Transmission (KAPT) has risen by as much as 3.6 per cent to Rs 551 as the company has announced that it will sell its stake in three power transmission subsidiaries to CLP India for Rs 3,275 crore ($475.8 mn).
Two of the units are wholly-owned by the company, while KAPT owns 74 per cent in the third one.
According to Refinitiv data, eleven of 14 brokerages covering the stock have “buy” or equivalent ratings on Kalpataru, while two have “hold” and one has “sell”. The median TP Rs 564.50.
As of last close, KAPT shares up 23.2 per cent this year
