Bajel Projects Sees 13% Surge After Securing ₹700 Crore Order from MSETCL
Bajel Projects Share Price Surges on Ultra-Mega Contract Acquisition
Bajel Projects share price rose by nearly 13% on March 16, following the company's acquisition of a significant contract worth over ₹700 crore from MSETCL.
The contract, granted through SASWAD TRANSMISSION, a Special Purpose Vehicle (SPV) of MSETCL, involves the construction of a 400/220 kV AIS Sub-Station in Saswad, Pune. The project will be completed within 23 months from the date of the Notification of Award.
The contract includes comprehensive turnkey EPC implementation of the substation, which entails design, provision, installation, testing, and commissioning of the substation, as well as related transmission lines, including civil works, supply, and ETC (Erection, Testing & Commissioning) activities.
This acquisition follows Bajel Projects' partnership agreement with National Investment and Infrastructure Fund (NIIF), an asset manager linked to the government of India, and AnantGrid Private Limited (Anantgrid), a power transmission developer supported by NIIF, which was entered into on March 10.
Investor Takeaway
Investors should consider Bajel Projects as a potential beneficiary of the infrastructure development in India.
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