Intimation of Confirmation of Lowest Bid at L1 stage for Distribution and Backup Power System in Gift City as per Regulation 30 of SEBI (LODR) regulations,2015.
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On the reaction day the stock moved 3.4 pts more than Nifty Microcap 250 and 3.3 pts more 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 has been declared the successful L1 bidder for the Distribution & Backup Power System project in GIFT City, covering both the DTA area (Part A) and the SEZ area (Part B). The project is to be completed within 18 months from the date of commencement. The company has not yet received the Letter of Intent or Letter of Award, and further disclosures will be made once these are issued. The order value has not been disclosed in this filing.
Being declared L1 is a positive development indicating pricing competitiveness, but it is not yet a confirmed order. Investors should wait for the LOI/LOA and order value disclosure to assess the actual revenue impact.