Bajel Projects Lights Up the Charts—Mega Power Order Sparks Upper Circuit Surge

Bajel Projects Ltd, the flagship power infrastructure company, surprised the markets today by hitting the 5% upper circuit of ₹209.80 after it secured an "ultra-mega" power transmission order worth more than ₹400 crore from Power Grid Corporation of India Ltd. Bajel's special purpose vehicle MEL Power Transmission secured the order. This is the company's growing role in handling large energy projects.

 

Mega Order Details:

Bajel Projects will construct a 400 kV double-circuit transmission line of approximately 138 km length to interconnect Mahan and Rewa in the Madhya Pradesh state. The project further includes the upgradation of the 400 kV Rewa substation to facilitate evacuation of power from the Mahan Energen Limited Generating Station.

 

Project Scope & Timeline:

The ₹400 crore-plus EPC (Engineering, Procurement, and Construction) order must be executed in a span of 29 months from the date of award.

 

Strategic Implications:

This transaction is a significant win for Bajel Projects, which has demonstrated its stellar capability in implementing intricate power transmission projects and contributing to India's rapidly developing energy infrastructure.

 

Market Reaction: Bajel Projects stocks rose to the upper circuit, reflecting positive investor sentiments. The stock rally in the face of a negative market reflects the positivity in the market for the company's growth prospects.

 

Leadership Comment:

Rajesh Ganesh, CEO & MD, Bajel Projects, added further, "It is a matter of great pride for us to have secured this ultra-mega order from PowerGrid Corporation of India. This project is a testimony to our strong capabilities in executing large and complex power transmission projects, fueling the development of India's energy infrastructure."

 

Company Background:

Bajel Projects, which was carved out of Bajaj Electricals Ltd in 2022, is an end-to-end power transmission and distribution solutions company. It has gained rapid traction as a company with engineering capabilities and reliability. This historic order not only reinforces the order book of Bajel Projects but also solidifies its leadership position in India's power sector revolution. 

 

Source: Business Standard, TalkMarkets