Intimation - Confirmation for Lowest Bid at L1 stage as per Regulation 30 of SEBI(LODR),2015.
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Awaiting price reaction for this filing.
Rajesh Power Services Ltd has been declared the successful L1 (lowest) bidder for a turnkey contract involving supply, installation, testing, and commissioning of 11KV Medium Voltage Covered Conductor (MVCC) under the KSY Scheme. The client is Paschim Gujarat Vij Company Ltd (PGVCL), a Gujarat state-owned power distribution company. The company has not yet received the formal Letter of Intent or Letter of Award, so the contract value and full details will be disclosed later. PGVCL is a state government utility, making this a government-backed order in the power infrastructure space.
This is a positive development as L1 status gives the company first right to the contract, supporting its order book. Investors should watch for the next update when the actual contract value is revealed, since the size of the deal will determine its real impact on revenue and earnings.