Bajel Projects Soars High with a Rs 488 Crore Work Order from Tata Power
Bajel Projects, a leading player in the power infrastructure sector, has recently seen a significant surge in its stock prices. The company's shares rose by 3.52%, reaching Rs 149.85. This increase came on the heels of an announcement that Bajel Projects has secured a Letter of Intent (LOI) from Tata Power Company for a project valued at Rs 487.64 crore.
"Bajel Projects secures a Rs 488 crore work order from Tata Power, marking a significant milestone. The project involves transmission lines and GIS substations in Uttar Pradesh."
A Major Win for Bajel Projects
The LOI entails the supply of plant and installation services for engineering, procurement, construction, and commissioning of transmission lines and GIS substations. These projects are slated for Greater Noida, Jalpura, and Khurja in Uttar Pradesh. The project is expected to be completed within an 18-month timeframe.
Bajel Projects (BPL) has a robust presence in the Power Transmission and Power Distribution sectors. Formerly a part of Bajaj Electricals Limited under the EPC segment, BPL has carved out a niche for itself in the power infrastructure business.
Financial Performance
Despite reporting a net loss of Rs 4.44 crore in Q2 FY24, as opposed to a net profit of Rs 3.13 crore in Q2 FY23, Bajel Projects has shown resilience. The company's total revenue from operations witnessed a substantial increase, rising to Rs 194.34 crore in Q2 FY24 from Rs 49.47 crore recorded in the same period last year.
This new project from Tata Power marks a significant milestone for Bajel Projects, potentially paving the way for future growth and expansion. As the company continues to make strides in the power infrastructure sector, investors and market watchers are keeping a close eye on Bajel Projects' performance.
Disclaimer: This blog post is for informational purposes only and should not be taken as investment advice. Please do your own research or consult a financial advisor before making any investment decisions.