Rajesh Power Services jumps 7% on winning multiple orders worth ₹278 crore

Rajesh Power Services shares rose 6.9 per cent on BSE, logging an intraday high at ₹1,588 per share. At 12:06 PM, Rajesh Power’s share price was trading 3.77 per cent higher at ₹1,540.75 per share on BSE. In comparison, the BSE Sensex was down 0.2 per cent at 82,460.

 

The market capitalisation of the company stood at ₹2,774.49 crore. The 52-week high of the stock was at ₹1,639 per share, and the 52-week low was at ₹636.5. 

Why were Rajesh Power shares in demand?

The buying on the counter came after the company secured new orders worth ₹278 crore from a combination of government and private customers.

 

Make smarter market moves with The Smart Investor. Daily insights on buzzing stocks and actionable information to guide your investment decisions delivered to your inbox.

Subscribe

 

Under the contract, the company will supply, install, test, and commission 400kV/33kV and 66kV/33kV gas-insulated substations (GIS) in Gujarat from a private entity. 

 

The other order is for converting the existing 11kV HT Network to underground cable/MVCC under the SI scheme in the jurisdictions of Mehmedabad, Anand, Petlad, and Nadiad from Madhya Gujarat Vij Company Limited (MGVCL).

 

“We are delighted to announce two significant order wins that mark a major milestone in our growth journey. With the award of a 400kV/33kV & 66kV/33kV GIS project in Gujarat, we have successfully entered the 400 kV GIS domain, further strengthening our technical expertise and capabilities. Additionally, the turnkey contract from MGVCL for underground cabling of 11kV HT networks will significantly enhance distribution capabilities across key urban centres. These achievements emphasize our commitment to developing world-class power transmission and distribution infrastructure for India, while positioning Rajesh Power Services Limited for sustainable growth in high-voltage and turnkey solutions,” the filing read. 

 

Rajesh Power is an Engineering, Procurement & Construction (EPC) company engaged in the power transmission & Distribution Sector. RPSL is providing its services across various verticals, including the execution of GIS substations, AIS substations, extra high voltage power cables, and transmission lines, and the construction of distribution systems. The company caters to government and institutional customers across India.