Shares of Jyoti Structures climbed 5% on October 23, following the announcement that the company had secured a Rs 450 crore order from Adani Energy Solutions. The contract involves the development of a 765 kV direct current (DC) Bhuj II-Lakadia transmission line at Navinal, Gujarat. The scope of work covers a range of activities, including surveys, soil investigations, supply of transmission towers, foundations, erection, stringing, and commissioning. The project is set on a turnkey basis, with an expected completion timeline of 18 months, aiming for April 2026.
This latest order provides continuity to the recent momentum that Jyoti Structures has gained in the transmission and distribution segment. In August this year, the company had received a Rs 106 crore order for supply of transmission towers for a 765 kV line, to be executed within 10 months. Apart from that, in July, Jyoti Structures received a contract worth almost Rs 118 crore from Adani Energy Solutions for the construction of the 765 kV D/C KPS III-AP44 transmission line.
The work is slated for completion by October 2025. These deals reflect the company’s raised role in the development of power transmission infrastructure in India, mainly where high capacity is concerned.
This company’s stock has been in a growth phase for the last year, wherein the shares have gained nearly 140%, against the gain of around 27% in the Nifty 50 index. This massive rally in the market capitalization demonstrates how investors are gaining more and more confidence in Jyoti Structures with the splendid execution of big-value contracts that the company has won continuously. Connectivity from Adani Energy Solutions further endorses the leading position in the power transmission business and bodes well for future growth and profitability.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
