Shares of Bajel Projects skyrocketed by 7% on 12 January after the company announced receiving an order worth Rs 478.64 crore.

In its regulatory filing, the company said that they had received an LoI (Letter of Intent) for the supply of plant and installation services for engineering, procurement, construction & commissioning of transmission lines and GIS Substations from Tata Power Company Limited for and on behalf of their project specific SPV, i.e. M/s Jalpura – Khurja Power Transmission Limited.

The project is located at Greater Noida, Jalpura, Khurja, in the state of Uttar Pradesh and has to be executed within 18 months from the effective date.

On 18 October 2023, the company received an order worth Rs 347.29 crore for the installation of a 765-kilovolt new transmission line of 109 km at Bhadla, Rajasthan, from Power Grid for a project in Rajasthan. The said project has to be executed in a period of 15 months from the date of issue.

Bajel Project is a demerged entity of household appliances company Bajaj Electrical after the company announced the demerger of its power transmission and distribution (T&D) business into a separate company.

At 11:41 am, the shares of Bajel Projects were trading 3.08% higher at Rs 149.10 on NSE.