Bajaj Electricals Secures Rs 347.29 Crore Power Grid Contract, Shares Up 1%

18 Oct 2023 , 12:54 PM

Bajaj Electricals’ shares increased by nearly 1% in early trading on October 18 after securing a contract worth Rs 347.29 crore from Power Grid Corporation of India. The contract involves a supply of services for a specific transmission project awarded by Power Grid.

The project encompasses a 765kV transmission line spanning 109 km in Bhadla, Rajasthan. It is slated for completion within 15 months from the date of NOA/LOA issuance.

On October 13, the company also received another contract for the supply of services from Power Grid Corporation of India Limited, on behalf of their SPV M/s Ananthpuram Kurnool Transmission. This contract entails the development of a 400kV New Transmission Line spanning 83.12 km and another 400kV New Transmission Line covering 183 km in Ananthapur and Kurnool, Andhra Pradesh. The contract is valued at Rs 564.20 crore and should be completed within 21 months from the date of the respective NOA/LOA issuance.

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