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Bajel Projects shares rise 5% on 'mega' order from Power Grid Corp
The heavy electrical equipment maker's stock rose as much as 5 per cent to hit an upper circuit of ₹242.7 per share, the highest level since January 1 this year. This compares to a 0.35 per cent advance in Nifty 50 as of 12:55 PM.
Shares of the company snapped a three-day losing streak on Thursday, and the stock currently trades 0.6 times the 30-day average trading volume, according to Bloomberg data. The counter has fallen 11 per cent this year, compared to a 7.6 per cent advance in the benchmark Nifty 50. Bajel Projects has a total market capitalisation of ₹2,838.62 crore, according to BSE data. Track LIVE Stock Market Updates Here
Bajel Projects bags order from Power Grid
The company secured a 'mega' order from PowerGrid Corp, valued between ₹300-₹400 crore, according to an exchange filing on Thursday. The order falls under the Transmission Line Package TL04 for the Siwani–Jind (PG) 400kV double circuit (quad) transmission line, part of the REZ Phase IV (6GW) Bikaner Complex.
The contract involves the construction of a 99-kilometre transmission line and was awarded through the tariff-based competitive bidding route. The project is expected to be completed within 18 months and is placed by PGCIL on behalf of its special purpose vehicle, Power Grid Siwani Transmission Ltd.
'We are proud to contribute to the nation's green energy initiatives by strengthening the transmission system for the REZ Ph-IV, Bikaner complex," said Rajesh Ganesh, managing director and chief executive officer, Bajel Projects. "This project reflects our commitment to delivering high-quality, timely, and efficient solutions that power India's growth."
Last week, the company said it had secured a 'Large' order for a substation project in India. The project involves the development of a 400kV GIS and a 765kV AIS extension substation.
About Bajel Projects
Bajel Projects (Bajel) is among the prominent players in the power infrastructure space, with a strong foothold in both the Power Transmission and Power Distribution sectors.
Formerly operating as part of Bajaj Electricals Limited under its EPC division, the company is widely recognised for its robust project management capabilities and operational excellence, earning it the trust of numerous state and national utilities, international clients, and private infrastructure developers.
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