Bajel Projects share price surged nearly 13% on Monday, March 16, following the company’s acquisition of an ultra-mega contract worth over ₹700 crore from MSETCL.
The Maharashtra State Electricity Transmission Co. (MSETCL), through their SPV SASWAD TRANSMISSION, has granted a contract for the construction of a 400/220 kV AIS Sub-Station.
This contract is set to be completed within 23 months from the date the Notification of Award is issued.
The project involves the comprehensive turnkey EPC implementation of a 400/220 kV Air Insulated Switchgear (AIS) substation located in Saswad, Pune, which includes the design, provision, installation, testing, and commissioning of the substation as well as all related transmission lines—encompassing civil works, supply, and ETC (Erection, Testing & Commissioning) activities.
On March 10, the company entered into a partnership agreement with the National Investment and Infrastructure Fund (NIIF), an asset manager linked to the government of India, and AnantGrid Private Limited (Anantgrid), a power transmission developer supported by NIIF.
Bajel is based in Mumbai and has a manufacturing plant located in Ranjangaon, Pune. The company specializes in the execution of high and extra-high voltage transmission lines, substations, underground cabling, monopoles, and electrification projects on a turnkey basis. Its major clients include PGCIL, MPPTCL, HVPNL, Torrent Power, ZESCO (Zambia), and KPLC (Kenya).
Bajel Projects share price today
Bajel Projects share price today at ₹149.10 apiece on the BSE, the stock touched an intraday high of ₹159.50 apiece and hit an intraday low of ₹149 per share.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Bajel Projects share price today witnessed a strong gap up opening supported with huge volumes, the bullish gap seen around 145 levels is seen as support whereas next potential target is expected towards 165 levels.
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