Bajel Projects shares surged 16.74% to hit a high of ₹199.80 in Thursday's early session, with the stock last seen trading 12.71% higher at ₹192.90. The sharp rally came after the company announced securing two major orders related to transmission and substation projects. According to Business Standard, the stock has gained 11.89% on a year-to-date basis, reflecting strong investor confidence in the company's order book expansion.
Bajel Projects has secured a significant contract for the 765kV AIS New Substation Package in Maharashtra, as reported by Business Standard. According to the company's project classification, the order value ranges between ₹200 crore to ₹300 crore. This contract reinforces Bajel's credentials in the 765kV substation class and represents a substantial addition to the company's project portfolio. The company classifies this as a major order in the ₹200-300 crore range.
The order forms part of the 'Network Expansion Scheme in Maharashtra for removal of Transmission constraints in Pune Region-I (765/400 kV AIS Pune East)', according to Business Standard. This critical grid reinforcement initiative is aimed at strengthening one of India's most industrially significant load centres. The project represents a strategic investment in infrastructure development for the region's power transmission capabilities, demonstrating the company's ability to deliver mission-critical transmission infrastructure at scale.
The comprehensive project involves the establishment of a new 765/400kV AIS Substation at Pune East, as reported by Business Standard. Additionally, the project includes the extension of the existing 400kV Karjat (AIS) and 400kV Lonikand-II (AIS) Substations in Maharashtra. This multi-faceted approach ensures comprehensive grid enhancement and addresses transmission constraints in the Pune region, showcasing the company's engineering capability and execution discipline.
Beyond the Maharashtra order, Bajel Projects secured another major contract for a 400kV transmission line under the Bellary–Davanagere renewable energy evacuation scheme, as reported by Business Standard. The project involves construction of a ~70 kms 400kV (Quad) D/c transmission line connecting Bellary Substation to Davanagere Substation. This order forms part of a larger transmission system strengthening initiative for integrating additional renewable energy potential of 0.25 GW at Davanagere and 2.75 GW at Bellary into the national grid, further deepening the company's 400kV and above order book.
