Bajel Projects Secures Order From Power Grid Corp; Stock Up 8%
The order worth Rs 586.28 crore is expected to be completed in 23 months
The stocks of Bajel Projects rose as much as 8 per cent in the Wednesday trading session after the firm received an order worth over Rs 500 crore from the Power Grid.
Bajel Projects stocks traded at Rs 286 with 7 per cent gain in the afternoon session on the National Stock Exchange (NSE).
“The company has been awarded a supply of goods and services contract by Power Grid Corporation of India for and on behalf of their project specific SPV i.e. M/s Beawar‐ Mandsaur Transmission,” stated Bajel Projects in a regulatory filing.
The order worth Rs 586.28 crore is expected to be completed in 23 months.
The scope of work includes transmission line package for Beawar-Mandsaur PS transmission line associated with Transmission System for evacuation of power from Rajasthan through Tariff Based Competitive Bidding (TBCB) route.
In terms of stock performance, the power transmission and distribution firm, Bajel Projects delivered 127 per cent returns year-to-date (YTD).
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