Ceigall India has secured a significant power transmission project worth ₹5,300 crore from REC Power Development and Consultancy Ltd (RECPDCL). According to a regulatory filing dated August 31, the project involves developing a common transmission system for evacuation of power from Lakadia Phase-II (7.5 GW), Jam Khambhaliya Phase-II (5.5 GW) and Jamnagar Phase-I (1 GW) — Part-B. The scope includes a 765/400 kV air-insulated substation (AIS) and approximately 300 km of transmission lines with a 36-month execution period and 35-year operational period. Under the terms of the tariff-based contract agreement, the order carries annual transmission charges of ₹608.67 crore for 35 years. The project forms part of the transmission infrastructure being developed to facilitate the evacuation of power from key renewable energy zones in Gujarat.
Following the announcement, Ceigall India shares jumped nearly 3% after the company received the Letter of Intent (LoI) from RECPDCL. The stock is currently trading at ₹354 apiece on NSE, up from its previous close at ₹347.4. The stock has shown strong momentum with gains of over 4% in the past week and rallied over 30% in 2026 so far. According to Essential Business Intelligence, the latest order, alongside the company's upcoming AGM and dividend payment, has been the key trigger behind today's jump. The project carries annual transmission charges of ₹608.67 crore for 35 years, as reported by the latest regulatory filing.
Ceigall India Managing Director Ramneek Sehgal commented on the significance of this project, stating that it marks an important milestone in the company's journey towards strengthening its presence in the transmission infrastructure segment. As per Essential Business Intelligence, Sehgal emphasized that the project will contribute to the development of critical power transmission infrastructure in Gujarat and support the efficient evacuation of power from key generation regions. He noted that with the company's strong execution capabilities and focus on large-scale infrastructure development, they remain committed to contributing to India's evolving energy and infrastructure landscape while creating long-term value for all stakeholders.
Separately, Ceigall India has scheduled its 24th Annual General Meeting for September 29, 2026. The company has fixed September 11 as the record date for dividend payment and has declared a 10% dividend, or ₹0.50 per equity share of face value ₹5. According to Essential Business Intelligence, the upcoming AGM and dividend payment have contributed to today's positive market response alongside the major project win.
This win adds to Ceigall India's expanding order pipeline as the Ludhiana-based company diversifies beyond its traditional road-focused business. According to CNBC TV18, the company's confidence is underpinned by an order book of nearly ₹18,000 crore, which Chairman and Managing Director Ramneek Sehgal said was close to five times last year's revenue. The company is targeting ₹6,000 crore of fresh orders this year, with around ₹600 crore already secured in the first quarter and has bid for projects worth more than ₹25,000 crore so far this year. Ceigall India is an infrastructure engineering, procurement and construction (EPC) company engaged in the development of highways, expressways, bridges, flyovers, railway overbridges, tunnels and runways, executing projects under EPC and hybrid annuity modes.
