Shares of Bajaj Electricals rose on March 6 after the company announced it had secured an order worth Rs 564.87 crore from South Bihar Power Distribution Company.

The stock was trading at Rs 124.65 per share on the National Stock Exchange at 11:17 am, up 2% from its previous close. The stock also hit an intraday high of Rs 1,158.

A total of 200,000 shares of the company changed hands, well above the one-month daily average of 81,000 shares.

The order entails supplying factory and installation services for developing the distribution infrastructure for the power circles at Sasaram and Munger, with a completion time of 30 months.

The engineering and procurement arm of Bajaj Electricals had an order book of around Rs 1,200 crore as of the end of the third quarter.

The order inflow will also support the company’s revenue growth, which has been lacklustre over the past few quarters. As a result, shares are down more than 26% from their all-time high reached in September 2021.