Bajaj Electricals gains after new order win

Bajaj Electricals gained 2.02% to Rs 336.20 at 09:21 IST on BSE after the company announced that it has bagged an order from Transmission Corporation of Telangana worth Rs 391.45 crore.

The announcement was made after market hours on Friday, 18 August 2017.

Meanwhile, the S&P BSE Sensex was up 37.79 points or 0.12% at 31,596.05. The S&P BSE Mid-Cap index was up 72.08 points or 0.47% at 15,280.54.

On the BSE, 4,405 shares were traded on the counter so far as against the average daily volumes of 58,439 shares in the past one quarter. The stock had hit a high of Rs 338 and low of Rs 334.40 so far during the day. The stock hit a record high of Rs 387.85 on 5 April 2017. The stock had hit a 52-week low of Rs 202.50 on 21 November 2016.

The mid-cap company has equity capital of Rs 20.31 crore. Face value per share is Rs 2.

Bajaj Electricals announced that the company has bagged an order from Transmission Corporation of Telangana worth Rs 391.45 crore. The order was received for the supply, erection, testing and commissioning of 400 KV QMDC line, from 400 kV NTPC Common point (end of multi-circuit tower) to 400 kV Narsapur sub-station on turnkey basis. The order completion period is 18 months.

Bajaj Electricals' net profit fell 10.36% to Rs 20.50 crore on 7.31% rise in net sales to Rs 1017.64 crore in Q1 June 2017 over Q1 June 2016.

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

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