Bajel Projects Limited has informed the Exchange about Bagging/Receiving of orders/contracts
BAJEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.6 pts more than Nifty Microcap 250 and 5.0 pts more than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bajel Projects has won a Mega EPC order from PowerGrid Corporation of India Limited (PGCIL) for the construction of a 99 km, 400kV D/C (Quad) Transmission Line connecting Siwani to Jind, part of the REZ Phase-IV (Part 3: 6GW) Bikaner Complex transmission system. The order falls in the company's 'Mega' category, which it defines as Rs. 300 Cr to Rs. 400 Cr (inclusive of GST). PGCIL placed the order on behalf of its SPV, POWERGRID Siwani Transmission Limited, and the project was originally awarded to PGCIL under the Tariff Based Competitive Bidding (TBCB) route. The contract carries an 18-month execution timeline from the date of the Notification of Award. It is a domestic order and not a related party transaction.
This is a positive development, adding a sizeable government-backed order to Bajel's order book and reinforcing its position in the power transmission EPC space. With PGCIL (a central PSU) as the client, counterparty risk is low, and the 18-month timeline provides near-term revenue visibility.