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Why is Bajel Projects' share price locked in 5% upper limit today? Details
At 10:00 AM, BajeL Projects share price remained locked in the 5 per cent upper limit at ₹209.80 per share. In comparison, BSE Sensex was trading 1.08 per cent lower at 81,563.12 levels.
What triggered the up move in Bajel Projects share price today?
Bajel Projects' share price surged today after the company announced it had secured a major engineering, procurement, and construction (EPC) order from Power Grid Corporation of India Limited (PGCIL).
The contract, categorised as an 'Ultra Mega' order—valued at ₹400 crore or more—is a major boost for the company's project pipeline.
As part of the award, Bajel Projects will be responsible for Transmission Line Package TL01. This includes the construction of a 400 kV double-circuit transmission line from the existing Mahan bus to Rewa PS (PG), using Quad ACSR/AAAC/AL59 'Moose'-equivalent conductors. The scope also covers the extension of the 400 kV Rewa (PG) substation. This project is part of the transmission system required for evacuating power from Mahan Energen Limited's generating station in Madhya Pradesh.
The entire project is expected to be completed within 29 months from the date the Notification of Award is issued.
'We are incredibly proud to have secured this ultra-mega order from PowerGrid Corporation of India Limited. This project reflects our robust capabilities in executing large and complex power transmission projects contributing to India's energy infrastructure growth,' said Rajesh Ganesh, MD & CEO of Bajel Projects.
About Bajel Projects
Bajel Projects is among the prominent players in the power infrastructure space, with a strong footprint in both power transmission and distribution.
Formerly the EPC division of Bajaj Electricals Limited, Bajel Projects is recognised for its project management expertise and operational excellence, making it a trusted partner for state utilities, national and international power companies, and private infrastructure developers.
The market capitalisation of Bajel Projects is ₹2,425.34 crore, according to BSE. The company falls under the BSE SmallCap index.
The 52-week high of Bajel Projects share price is ₹330, while its 52-week low is ₹145.20.
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