Bajaj Electricals up on Commonwealth order

DALAL STREET SPIKES

The stock gained 14 per cent to close at Rs 504.1, after touching an intra-day high of Rs 513.9. Over 6,800 shares were traded on the BSE. The stock has gained 10.5 per cent over one week and 7 per cent in one month.

The latest surge has been on the back of a possible large order from the Commonwealth Games 2010. The company's engineering and projects business unit has recently bagged orders worth over Rs 70 crore.

The company has received orders from Bhel, NTPC, Jaipur Development Authority and MMRDA. It posted 35.7 per cent rise in net profit to Rs 3.69 crore in Q1 compared with a net profit of Rs 2.72 crore in the corresponding previous quarter.