Upper Circuit Stocks: Bajel Projects shares surge 5% after another ₹400 crore order

Shares of Bajel Projects Ltd. gained 5% on Thursday, July 3, after the company said it has secured 'mega' power order for a 400 kV transmission line project.

The company classifies orders in the range of ₹300 crore to ₹400 crore as 'mega' orders.

The order pertains to the transmission line package TL04 for the Siwani-Jind 400 kV transmission line, which is associated with the transmission system of REZ Phase IV in Bikaner Complex. The project was awarded to Power Grid under the tariff based competitive bidding route, the company added.

The scope of work for Bajel Projects includes the construction of a new 400kV transmission line spanning around 99km.

The engineering procurement and construction (EPC) contract is to be completed in 18 months.

"We are proud to contribute to the nation's green energy initiatives by strengthening the transmission system for the REZ Ph-IV, Bikaner Complex. This project reflects our commitment to delivering high-quality, timely and efficient solutions that power India's growth," Rajesh Ganesh, the company's MD and CEO said.

Last week, Bajel Projects secured a contract valued at ₹100 crore to ₹200 crore from a leading private company int he energy and power transmission sector.

The project involves the development of a 400 kV gas insulated substation (GIS) and a 765 kV air insulated substation (AIS) extension. It includes two major components: The supply of extra high voltage (EHV) equipment — along with mandatory spares, tools, tackles, and auxiliaries — and a service order covering the erection, testing, and commissioning (ETC) and civil works related to all supplied materials and equipment.

Shares of Bajel Projects Ltd. hit 5% upper circuit at ₹242.72 apiece on Thursday, July 3. The stock has gained 12.8% in the past month but has declined 11.9% this year, so far.

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