Bajel Projects Shares Jump 10% After Securing Major Order from Solapur Transmission

Bajel Projects Shares Jump 10% After Securing Major Order from Solapur Transmission

Shares of Bajel Projects soared by 10% on December 13, defying a weak market trend, as the company announced a significant contract win. Bajel Projects will supply goods and services to Solapur Transmission, a Torrent Power subsidiary, to establish a 400/220 KV substation in Maharashtra.

Details of the Contract

The scope of the project includes:

  • Design, engineering, manufacturing, and supply of equipment.
  • Erection, civil work, testing, and commissioning of the substation.
  • Setting up two 400 KV line bays at Power Grid Solapur.

The project is expected to be completed within 15 months of receiving the letter of award (LoA).

At 10:01 am, Bajel Projects’ shares were trading at Rs 266.55 on the NSE, becoming one of the top performers on the BSE Smallcap Index. The stock saw a surge in trading volumes, with 17 lakh shares exchanged—far exceeding its one-month daily average of 3 lakh shares.

Financial Performance

Bajel Projects has been witnessing a sharp turnaround in its financials:

  • Q2 Net Profit: Rs 3.66 crore, compared to a loss of Rs 4.44 crore in the same quarter last year.
  • Revenue from Operations: Rs 662.41 crore in Q2 FY24, a significant jump from Rs 199.96 crore in Q2 FY23.

Company Outlook

Bajel Projects operates in the power transmission and distribution space as part of the Bajaj Group. The latest order win underscores its capabilities in executing large-scale infrastructure projects and bolsters its position in the energy sector.

Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com

Source: Moneycontrol

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top