Announcement under Regulation 30(LODR),2015 for orders received from Gujarat Energy Transmission Corporation Limited (GETCO) and East Central Railway.
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On the reaction day the stock moved 3.7 pts less than Nifty Microcap 250 and 2.7 pts less than its Other Utilities peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Rajesh Power Services Ltd has won two turnkey orders worth a combined Rs. 85.24 Crores. The first, from Gujarat Energy Transmission Corporation Limited (GETCO), is worth Rs. 40.08 Crores for supply, installation, testing and commissioning of a 220kV underground cable at the proposed 220kV Dholera Substation, to be executed in 6 months. The second, from East Central Railway, is worth Rs. 45.16 Crores for design, supply, erection, testing and commissioning of a 132kV transmission line and associated line bays at GSS Nabinagar, to be executed in 18 months in joint venture with a private company. Both orders are from domestic government entities, are turnkey in nature, and are unrelated to promoter/promoter group companies.
The Rs. 85.24 Crore combined order win from two government clients strengthens the company's order book and revenue visibility in the power transmission infrastructure segment. Back-to-back wins from state and central government entities reinforce Rajesh Power's credentials in executing turnkey electrical projects and are likely to be viewed positively by investors.