Small-cap stock Bajel Projects hits 5% upper circuit on THIS business update
Bajel Projects on Tuesday post-market hours announced a business update pertaining to capacity expansions.
Details of the proposed capacity addition as per Bajel Projects announcement on the National Stock Exchange and BSE Ltd., or Bombay Stock Exchange, pertain to manufacturing facilities at the Ranjangaon facility.
The proposed capacity addition being undertaken at the Ranjangaon facility of the company will lead to total galvanization capacity reaching 110,000 MT after completion of the proposed addition. Existing galvanization capacity of Bajel Projects stands at 40,500 MT, as per the release. The current existing galvanization capacity.
The period within which the proposed capacity is to be added by Bajel Projects is from Q4 FY26 to Q4 FY27 and will be in phases.
The proposed investment for the capacity expansions by Bajel projects stands at ₹ 170 crore.
The capacity expansions will be financed through internal accruals as well as through debt, as per Bajel Projects.
The Rationale for the proposed capacity expansion as per Bajel Projects is is to meet captive demand and sales in domestic and international markets.
Bajel Projects share price opened at R 247.90 on the BSE on Wednesday. The Bajel projects share price at the time of opening was up more than 3% compared to the previous day's closing price of ₹ 240.35. The Bajel projects share price thereafter gained further intraday highs of ₹ 252.35, translating into gains of almost 5% during the intraday trades. The intraday high for the Bajel Projects share price was also its upper price band, and hence the Bajel Projects share price was locked in the upper circuit on Wednesday.
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