Bajaj Electricals shares jump 5% on Rs 347 crore order from Power Grid
Shares of Bajaj Electricals rose over 5% on October 18 after it won a service contract worth Rs 347.29 crore from Power Grid Corporation of India. Shares of Bajaj Electricals closed at Rs 1,119.80 on the National Stock Exchange (NSE), up 2.77% from the previous closing price.
In an exchange filing on Tuesday, the Bajaj Group company announced that Power Grid Corporation of India has awarded it a contract to supply services on behalf of and for its project-specific transmission company.
The contract consists of a 765 kilo volt (kV) transmission line spanning 109 km at Bhadla, Rajasthan, connected to the transmission system for offtake of power from the REZ (20 GW) in Rajasthan through a tariff-based competitive bidding route. . This project will be completed in 15 months at a total cost of Rs 10 crore. 347.29 crores.
This is the third order received by Bajaj Electricals from Power Grid this month. Earlier on October 13, the company had received a contract worth Rs 564.20 crore for its special purpose vehicle (SPV) for supply of 400kV new transmission line – 83.12 km and 400kV new transmission line – 183 km at Anantapur and Kurnool. Ananthapuram Kurnool Transmission, will be completed within 21 months.
Also, on October 9, a prize of Rs 1 crore was also given to the company. Service contract worth Rs 97.65 crore related to 765 KV expansion works at 2 locations of Bhadia II and Sikar III in Rajasthan, will be completed in
