Bajaj Electricals advances after new order win

Bajaj Electricals gained 5.08% to Rs 469.50 at 09:36 IST on BSE after the company announced that its engineering & project business unit bagged a power distribution project worth $4.12 million.

The announcement was made after market hours yesterday, 6 February 2018.

Meanwhile, the S&P BSE Sensex was up 160.94 points or 0.47% at 34,356.88. The S&P BSE Mid-Cap index was up 239.62 points or 1.47% at 16,520.71.

On the BSE, 24,000 shares were traded on the counter so far as against the average daily volumes of 91,204 shares in the past one quarter. The stock had hit a high of Rs 482.20 and low of Rs 455 so far during the day. The stock hit a record high of Rs 584.80 on 5 January 2018. The stock had hit a 52-week low of Rs 243 on 6 February 2017.

The mid-cap company has equity capital of Rs 20.38 crore. Face value per share is Rs 2.

Bajaj Electricals announced that its engineering & project business unit has bagged a power distribution project worth $4.12 million, under Lusaka Transmission Distribution Rehabilitation Project (LTDRP) funded by World Bank & European Investment Bank. With this order win, the company got entry in the African markets, Bajaj Electricals said.

Bajaj Electricals' net profit rose 13.93% to Rs 18.98 crore on 6% fall in net sales to Rs 932.02 crore in Q2 September 2017 over Q2 September 2016.

Bajaj Electricals has a diversified business viz - consumer products (appliances, fans, lighting), exports, luminaires and EPC (illumination, transmission towers and power distribution).

Powered by Capital Market - Live News