Bajel Projects rallies 7% after order win from Adani Energy Solutions

Bajel Projects shares were in high demand on Tuesday, after the company received a contract from Adani Energy Solutions. Bajel Projects share price rose 6.76 per cent to Rs 245.30 per share on the BSE in intraday trade. 

 

The project is an engineering procurement and construction (EPC) contract for a transmission line. It involves construction of 400KV D/C Raipur – Tiroda (Quad ACSR Moose) transmission lines in the state of Chhattisgarh and Maharashtra covering 217 kilometres. 

 

The project will be executed by 18 months from the date of issuance of letter of award, the company said in an exchange filing on Monday. 

 

On the equities front, Bajel Projects share price has underperformed the market, falling 18.2 per cent in the last six months, while gaining 55.2 per cent in the last one year. In comparison, the BSE Sensex has slipped 4.7 per cent in the last six months, while gaining 5.6 per cent in the last one year. 

 

Bajel Projects has a total market capitalisation of Rs 2,756.02 crore. Its shares are listed at a price to earnings multiple of 140.26  and at an earning per share of 1.70.

 

At 11:43 PM, the stock price of the company declined by 3.72 per cent at Rs 238.30 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.42 per cent to 76,649.07 level.

 

Bajel Projects Limited (BPL), a member of the Bajaj Group and formerly a part of Bajaj Electricals Limited, specializes in designing, manufacturing, and executing power transmission and distribution projects. 

 

The company offers comprehensive services, including engineering, testing, procurement, and installation, and is involved in the design and production of transmission and distribution poles as well as tubular substation structures. BPL undertakes projects for state governments, international clients, and private infrastructure initiatives.