Bajel Projects shares surged 17% in Thursday's early trading session, hitting a high of ₹199.80 before settling at ₹192.90, representing a 12.71% gain. The sharp rally came after the company announced securing two major orders related to transmission and substation projects. The stock has gained 11.89% on a year-to-date basis, reflecting strong investor confidence in the company's order book expansion and execution capabilities.
Bajel Projects has secured a significant contract for the Bellary-Davanagere transmission line Package TL01, comprising a 2nd 400kV (Quad) D/c transmission line. According to the company's project classification, the order value ranges between ₹200 crore to ₹300 crore. The contract was announced on May 14, 2026, marking a substantial addition to the company's transmission infrastructure portfolio. The project involves the construction of a ~70 kms 400kV (Quad) D/c transmission line connecting Bellary Substation to Davanagere Substation, forming part of a larger transmission system strengthening initiative designed to integrate additional renewable energy capacity.
The Bellary-Davanagere corridor serves as a central transmission system for evacuation of renewable power from critical solar and wind zones in Karnataka. As per Bajel Projects, this transmission line is linked to integration of an additional 0.25 GW renewable energy capacity at Davanagere and 2.75 GW at Bellary into the national grid. Rajesh Ganesh, MD and CEO of Bajel Projects, emphasized that "With every such order, Bajel reinforces its commitment to building the transmission infrastructure that will power a greener, more reliable India to the highest standards of safety and quality." The project enables the integration of 0.25 GW at Davanagere and 2.75 GW at Bellary, representing a critical link in evacuating renewable power into the national grid.
Additionally, Bajel Projects secured another major order for a 765kV AIS substation package in Maharashtra. As per the company, this 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)" - a critical grid reinforcement initiative aimed at strengthening one of India's most industrially significant load centres. The project involves the establishment of a new 765/400kV AIS Substation at Pune East, along with the extension of the existing 400kV Karjat (AIS) and 400kV Lonikand-II (AIS) Substations in Maharashtra.
The transmission line forms part of a larger transmission system strengthening initiative designed to integrate additional renewable energy capacity. With this addition, Bajel Projects continues to deepen its 400kV and above order book, highlighting the company's engineering capability, execution discipline, and readiness to deliver mission-critical transmission infrastructure at scale. The company stated that the order further strengthens its 400 kV and above order book while highlighting its engineering and execution capabilities in large-scale transmission infrastructure projects, reinforcing its position in India's renewable energy integration and grid modernization efforts.
