Bajaj Electricals surges 7% on 8 orders in Madhya Pradesh

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26 Aug, 2025 12:21

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Moneycontrol Bureau

Investors lapped up shares of Bajaj Electricals on winning eight orders in Madhya Pradesh under Rajiv Gandhi Gram Vikas Yojana. The stock gained as much as 6.77 percent in early trade on Monday.

"The engineering & project business unit of the company has bagged eight new orders for rural electrification work in Jabalpur District from Madhya Pradesh Purva Kshetra Vidyut Vitaran Company and in Bhopal District from Madhya Pradesh Madhya Kshetra Vidyut Company, under Rajiv Gandhi Gram Vikas Yojana, aggregating to Rs 518.46 crore," said the company in its filing.

One order worth Rs 412.37 crore received from Madhya Pradesh Purva Kshetra Vidyut Vitaran Company and the second order worth Rs 106.06 crore from Madhya Pradesh Madhya Kshetra Vidyut Company. The completion period for both orders is 24 months.

With this order, the company’s order book stands at Rs 3,178 crore as on September 13, which is at the highest-ever level, said Shekhar Bajaj, CMD.

He added that orders have been coming too fast for the company, hence the management has consciously decided on slowing down on the order intake as it wants to focus more on the execution aspect.

Bajaj Electricals is targetting Rs 1,500 crore of revenues in FY15 and may earn Rs 500 crore (revenue) from the E&P project in H1FY15. Bajaj said the company is not participating in any low-margin orders currently.

Meanwhile, this was the second order for the company in a month. On August 28, its engineering and project business unit had bagged four new orders worth Rs 602.12 crore. Two orders were for transmission lines in Tamil Nadu and West Bengal from Power Grid Corporation of India Limited (PGCIL) and West Bengal State Electricity Transmission Company, respectively while other two orders were for rural electrification work at Bihar from North Bihar Power Distribution Company and South Bihar Power Distribution Company, respectively.

At 09:37 hours IST, the stock was quoting at Rs 289.50, up Rs 12.20, or 4.40 percent on the BSE.

Posted by Sunil Shankar Matkar