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Rajesh Power rises 6% after bagging ₹220-crore order from Madhya Gujarat

Rajesh Power shares gained 6.2 per cent in trade on Tuesday, logging an intraday high at ₹1,434 per share. At 11:40 AM, Rajesh Power shares were trading 4.58 per cent higher at ₹1,412 per share on the BSE. In comparison, the BSE Sensex was up 0.01 per cent at 83,451.14. The company's market capitalisation stood at ₹ 2,542.64 crore. Its 52-week high was at ₹1,572.95 per share and the 52-week low was at ₹636.5 per share. Why were Rajesh Power shares in demand? The buying interest on the counter came after the company bagged multiple orders from Madhya Gujarat Vij Company Limited (MGVCL), Vadodara, Gujarat. Under the contract, Rajesh Power will supply, install, test, and commission 11KV medium voltage covered conductor (MVCC) at various locations under the Kisan Suryoday Yojana (KSY) Scheme and Vanbandhu Kalyan Yojana (VKY -2) Scheme. "We are pleased to inform you that the Company has received orders from M/s Madhya Gujarat Vij Company Limited (MGVCL), Vadodara, Gujarat for turnkey Contract for supply, installation, testing and commissioning of 11KV Medium Voltage Covered Conductor (MVCC) at various locations under Kisan Suryoday Yojana (KSY) Scheme and Vanbandhu Kalyan Yojana (VKY -2) scheme," the filing read. The order is worth ₹220.18 crore and has to be completed within 9 months. Prior to this, the company secured ₹59.79 crore order from Gift Power Company for distribution and backup power systems in the SEZ Area and DTA Area of GIFT City. The order was to be completed within 18 months. As per the agreement, Part A involves setting up grid power supply infrastructure across both SEZ and DTA areas. Part B focuses on establishing backup power arrangements exclusively for the SEZ area, while Part C pertains to the expansion of substation feeders in the DTA zone. The project is aimed at enhancing the power reliability and operational readiness of GIFT City's growing infrastructure. About Rajesh Power Services Rajesh Power Services is amongst the largest players in the country firmly established in the underground power transmission and infrastructure EPC space. Rajesh Power has experience in executing large-scale projects with notable capabilities that deliver end-to-end solutions covering design, consultancy, procurement, project execution, and testing and commissioning projects on a turnkey basis. The company is also a utility service provider in the area of operations and maintenance services, utility services like cable testing, and fault location for its utility as well as private clients.