Bajaj Electricals gains on orders worth Rs 518 crore

The company has received two rural electrification orders in Madhya Pradesh worth Rs 518.46 crore

Shares of Bajaj Electricals were up over 4% at Rs 290 after the company said it has bagged two orders worth Rs 518.46 crore.

The first order from Madhya Pradesh Purva Kshetra Vidyut Vitaran Company Ltd for rural electrification work in select districts of Madhya Pradesh for Rs 412.37 crore.

The second order is for rural electrification work in Morena district of Madhya Pradesh which includes electrification of households below-the-poverty line. The order value for the same is Rs 106.09 crore.

The stock opened at Rs 287 and touched a high of Rs 296 on the BSE so far. Over 590,000 shares were traded on both the stock exchanges so far.