Bajaj Electricals rises on Rs 332 cr order win

Bajaj Electricals rose 1.22% to Rs 1,150.9 after the company received an order under the transmission line tower package TW04 from Power Grid Corporation of India.

The order entails supply of goods/services under transmission line tower package TW04 for 765 kilovolt D/C Navasari (New) (South Gujarat) - Padghe line (Maharashtra portion), associated with transmission network expansion in Gujarat to increase its air traffic control (ATC) from inter state transmission system (ISTS).

The value of the order aggregated to Rs 332.65 crore and is expected to be completed within 15 months from the date of issue of NOA/LOA.

Bajaj Electricals, a part of Bajaj Group, makes consumer products (appliances, fans, lighting) and executes EPC contracts (illumination, transmission line towers and power distribution).

The company had reported a consolidated net profit of Rs 42.96 crore in Q1 FY23 as against a net loss of Rs 21.87 crore in Q1 FY22. Net sales rose 42.3% YoY to Rs 1,202.10 crore in Q1 FY23.

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