Stock Below Rs 200 Small-Cap Transmission Stock Bags Ultra-Mega EPC Order from PowerGrid for 765 kV Transmission Line; Check Details

Bajel Projects Ltd has been awarded an Ultra-Mega EPC order for transmission line works by PowerGrid Corporation of India Limited (PGCIL), with the order placed on behalf of its special purpose vehicle, WR ER Part A Power Transmission Limited. The project involves construction of 765 kV transmission lines under the Western Region-Eastern Region Inter-Regional Network Expansion Scheme-Part A through the Tariff Based Competitive Bidding route.

On Wednesday, Indian equity benchmark indices traded lower, with the benchmark Nifty 50 index falling 161.85 points, or 0.66 per cent, to 24,309.85. Amid the market movement, Bajel Projects share price rose 2.80 per cent to Rs 194.50 following the company's announcement of the Ultra-Mega transmission line order.

Ultra-Mega Transmission Order from PowerGrid

The order covers Transmission Line Package TL05, which includes bypassing the Raigarh (Tamnar)-Dharamjaygarh (Section-B) 765 kV double-circuit line and the Raigarh (Kotra)-Raigarh (Tamnar) 765 kV double-circuit line at Raigarh (Tamnar) substation.

The project also includes the line-in-line-out (LILO) of the Dharamjaygarh (Section-B)-Jharsuguda (Section-A) 765 kV double-circuit line at Raigarh (Kotra)-II substation, along with the Raigarh (Tamnar)-Raigarh (Kotra)-II 765 kV double-circuit line. These works form part of the WR-ER Inter-Regional Network Expansion Scheme-Part A under the TBCB route.

765 kV Transmission Line Project

The order is classified as an EPC contract for transmission line works and has been awarded by a domestic entity. The project involves construction of a 765 kV transmission line and has an execution period of 33 months from the date of issuance of the Notification of Award.

Bajel Projects has classified the contract as an Ultra-Mega Order under its project classification policy. As per the company's classification disclosed in the filing, Ultra-Mega Orders are contracts valued at Rs 400 crore and above, inclusive of GST. The filing does not disclose the exact order value.
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No Related Party Interest

The company stated that the promoter, promoter group and group companies have no interest in the entity awarding the order. It further confirmed that the contract does not fall under related party transactions. The order has been awarded in the ordinary course of business.

Bajel Projects Share Price

Bajel Projects shares were trading at Rs 194.50, up 2.80 per cent on Wednesday, while the benchmark Nifty 50 index was down 0.66 per cent at 24,309.85. The stock movement came after the company disclosed the Ultra-Mega EPC order from PowerGrid for the 765 kV transmission line project.

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Disclaimer: The article is for informational purposes only and not investment advice.