Bajel Projects hits 5% upper circuit; what is driving investors' interest?

Bajel Projects share price froze in 5 per cent upper circuit after company revelead plans to expand Ranjangaon facility capacity in phases

Bajel Projects share price hit 5 per cent upper circuit at ₹252.35 per share on Wednesday. At 9:55 AM, Bajel Projects shares were locked in the 5 per cent upper band at ₹252.35 per share on the BSE. In comparison, the BSE Sensex was down 0.14 per cent at 83,598.29.

 

The company's market capitalisation stood at ₹2,917.23 crore. Its 52-week high was at ₹313.35 per share and the 52-week low was at ₹145.2 per share.   CATCH STOCK MARKET LATEST UPDATES LIVE

Why were Bajel Projects' shares in demand? 

The northward movement in stock came after the company proposed to increase its galvanization capacity to 1.1 lakh MTPA from the current 40,500 MTPA, with an investment of Rs 170 crore at its Ranjangaon facility. 

 

"We would like to inform the exchanges about the proposed capacity addition being undertaken at the Ranjangaon facility of the company," the filing read.

 

The expansion is aimed at meeting captive demand and boosting sales in both domestic and international markets. The capacity will be added in a period from Q4 FY26 to Q4 FY27 in phases.

 

That apart, the company recently secured a 'mega' order from PowerGrid Corp, valued between ₹300-₹400 crore. The order fell under the Transmission Line Package TL04 for the Siwani–Jind (PG) 400kV double circuit (quad) transmission line, part of the REZ Phase IV (6GW) Bikaner Complex. 

 

The contract involved the construction of a 99-kilometre transmission line and was awarded through the tariff-based competitive bidding route. The project is expected to be completed within 18 months and is placed by PGCIL on behalf of its special purpose vehicle, Power Grid Siwani Transmission Ltd.

 

Last week, the company said it had secured a ‘Large’ order for a substation project in India. The project involves the development of a 400kV GIS and a 765kV AIS extension substation.   ALSO READ | Phoenix Mills drops 3% as Nomura initiates 'Reduce', sees 11% downside

About Bajel Projects

Bajel Projects (Bajel) is among the prominent players in the power infrastructure space, with a strong foothold in both the Power Transmission and Power Distribution sectors. 

 

Formerly operating as part of Bajaj Electricals Limited under its EPC division, the company is widely recognised for its robust project management capabilities and operational excellence, earning it the trust of numerous state and national utilities, international clients, and private infrastructure developers.