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Bajaj Electricals hits 52-wk high on Rs 3,578-cr order win

Press Trust of India  |  New Delhi 

Shares of surged than 7 per cent in morning trading after the company bagged orders worth Rs 3,577.93 crore from (MVVNL).

In a regulatory filing on April 16, the company had said that it has bagged orders for rural/urban electrification projects in from MVVNL aggregating Rs 3,577.93 crore.

Following the announcement, the shares of the company opened at Rs 640.30, then surged to 52-week high of Rs 665.85, up 7.53 per cent over its previous closing price

On NSE, the stock opened at Rs 645 then jumped 7.63 per cent to an intra-day high of Rs 665.95, its 52-week high level.

The engineering and project business unit of the company has bagged orders for ten rural/urban electrification projects aggregating worth Rs 3,577.93 crore (including GST) from MWNL under the Saubhagya Yojna of Government of India, the filing said.

The location for the rural/urban electrification projects include Baudan & Bareli, & Unnao, Shajanpur & Pilibhit, Sultanpur & Amethi, Sitapur, Hardoi, Faizabad, Barabanki, Gonda and Ambedkar Nagar districts in the State of

The company further noted that the projects shall be completed within 15 months from the date of issue of letter of intent (LOI).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 10:55 IST
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