Shares of Bajaj Electricals opened 7% above its previous close on 16 October after the company secured a Rs 564 crore order.

The company has received a contract for the supply of services from Power Grid Corporation for a new transmission line in Andhra Pradesh.

The project is for a 400 Kilovolt (kV) new transmission line for 83.1 km in Ananthapur and a 40 kV new transmission line for 183 km in Kurnool, Andhra Pradesh. The said project has to be completed within 21 months from the date of issue.

The total value of the said contract is Rs 564.20 crore.

Shares of shares of the company have seen the most gains in a single day since 30 June 2022. Over a period of six months, the shares of the company have gained over 5%.

At 2:18 pm, the shares of Bajaj Electrical were trading at Rs 1,100 or 2.45% above its previous close on NSE.