Upper Circuit Stock: This company secured order from Tata Power; Share Price Jumps 20%

The contract relates to the EPC of monopoles, including foundation works, for the 220 kV Kalwa–Kalyan Pal Line project. The scope includes the Construction of a 220 kV transmission line on monopoles. The company has classified the contract as a 'Significant' order under its internal project classification framework. As per its policy, significant orders are those ranging from Rs 50 crore to Rs 100 crore, inclusive of GST.

The order will be executed over a period of 10 months from the date of issuance of the purchase order. Bajel Projects said the contract has been received in the ordinary course of business and falls within its core EPC operations focused on power transmission line works.

The company clarified that none of its promoters, promoter group, or group companies have any interest in Tata Power Company Limited, the awarding entity. It also confirmed that the contract does not fall within the purview of related party transactions.

About Bajel Projects Ltd

Incorporated in 2022, Bajel Projects Ltd is in the business of Engineering, Procurement and Construction. It's EPC segment comprises of Power Transmission & Power Distribution. BPL provides end to end solutions ranging from inhouse design, testing, procurement, manufacturing, installation & commissioning of the projects.

Bajel Projects Ltd Share Price Performance

Post the announcement of receiving the order, Bajel Projects Limited share price saw a sharp surge. Post opening at Rs 149. 90, the company share price quickly hit the Upper Circuit mark reaching at Rs 167.95. 

Talking about the past performance, the share price has been moderately volatile. Year-to-date (YTD), the stock is down by 2.91 per cent. Over the past one year (1Y), however, the stock has delivered a gain of 5.43 per cent.

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