Intimation of Receipt of Orders from Madhya Gujarat Vij Company Limited (MGVCL) under Regulation 30 of SEBI (LODR) ,2015.
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On the reaction day the stock moved 3.1 pts more than Nifty Microcap 250 and 3.6 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 Ltd has secured a turnkey contract worth Rs. 182.62 Crore (inclusive of taxes) from Madhya Gujarat Vij Company Limited (MGVCL), a Gujarat state-owned power distribution company. The order involves converting existing 11kV high-tension overhead networks to underground cable/MVCC across four jurisdictions in Gujarat — Mehmedabad, Anand, Petlad, and Nadiad. The project is to be executed over 12 months on a domestic basis, with no promoter group or related-party interest involved. The disclosure was made under SEBI Listing Regulations, indicating the order meets the company's materiality threshold for public reporting.
Positive for the company — this is a sizable domestic order from a state government utility, adding meaningful revenue visibility over the next 12 months and strengthening the order book. Government PSU orders typically carry lower counterparty risk, which may support investor confidence.