Bajel Projects Limited shares jumped over 13% from day's lows on Tuesday, April 29, following the announcement of significant international transmission orders. According to reports from CNBC TV18, the company secured ultra-mega EPC orders for transmission lines from an international client in the Middle East and North Africa (MENA) region. The stock surged to ₹201.73 from intraday lows of ₹178.05, representing a significant recovery from earlier trading levels. Trading volumes crossed 10,06,031 shares as of 12:10 PM, indicating heightened market activity and strong investor optimism around the international order wins.
The secured orders involve the construction of 500 kV overhead transmission lines across two contiguous sections (Lot 1 and Lot 5) with a contract value exceeding ₹400 crore. As reported by CNBC TV18, the project is classified under the company's 'ultra-mega' category and is scheduled for execution within 11 months from the commencement date. The scope includes the development of two contiguous sections of 500 kV transmission corridors, with execution expected to be completed within 11 months from the project's commencement. The project forms part of a national grid reinforcement programme aimed at strengthening high-voltage transmission infrastructure in the region to support rising industrial and economic demand.
Managing Director and CEO Rajesh Ganesh described the order as a 'defining moment' for the company, stating that securing such a critical international project reflects strong global confidence in Bajel's engineering expertise, execution capabilities, and ability to deliver complex high-voltage infrastructure projects. According to CNBC TV18, the order strengthens the company's presence in the MENA region where it has been expanding its footprint through international projects and partnerships. The company confirmed that the contract does not involve any related party transactions, with no promoters or group companies having interest in the awarding entity.
Following the announcement, shares of Bajel Projects surged more than 13% to day's highs at ₹201.73 from intraday lows. As reported by CNBC TV18, the stock was trading 5.32% up at ₹191.02 as of 12:49 pm on Tuesday. The positive momentum in the market is supported by reports of geopolitical easing, particularly concerning the Iran-US situation, which has boosted investor confidence. According to latest market data, Nifty 50 is trading at 24,308.55, up 0.88% while Sensex is at 77,890.78, up 0.83%, reflecting broad-based buying across various sectors with the Nifty Realty index leading gains at 1.92%.
