Bajel Projects Limited shares surged more than 12% in early trade on Monday after the company announced that it has secured a major order worth over ₹700 crore from Maharashtra State Electricity Transmission Company Limited (MSETCL). The strong order win triggered buying interest in the stock during the morning session.
The company revealed that the contract involves the development of a 400/220 kV substation at Saswad in Pune, which will be executed on a turnkey basis. The project includes the design, engineering, supply, erection, testing and commissioning of a 400/220 kV Air Insulated Switchgear (AIS) substation along with associated transmission lines.
This infrastructure project is expected to significantly strengthen power evacuation capacity in the Pune region, supporting the city’s expanding industrial and commercial ecosystem. The new substation will help improve grid reliability and ensure stable electricity supply for the growing demand in the area.
Following the announcement, Bajel Projects shares witnessed a sharp rally in the stock market. As of 9:19 AM (IST), the stock was trading sharply higher after hitting an intraday high of ₹158.00, compared to the previous close of ₹139.96.
The stock opened at ₹149.90 and touched a day’s low of ₹148.00 before gaining momentum. Trading activity also remained strong, with a live volume of 8,65,973 shares changing hands during the early session.
Despite today’s rally, the stock remains below its 52-week high of ₹263.90, while the 52-week low stands at ₹137.25.