Bajaj Electrical lights up

On Friday, late in the evening, Bajaj Electricals announced that it has bagged an order from Transmission Corporation of Telangana worth Rs 391.45 crore.

The order was received for the supply, erection, testing and commissioning of 400 KV QMDC line, from 400 kV NTPC Common point (end of multi-circuit tower) to 400 kV Narsapur sub-station on Turnkey basis.

The order is expected to be completed in 18 months.

The company had ended Q1FY18 on a pretty disappointing note. It reported a 10% (YoY) decline in net profit at Rs.20.50 crore though total income had shown a 7% increase at Rs.1029 crore. It was the EPC segment which helped the topline – it reported a 36% increase in revenue while consumer products showed a 14% decline. Total expenses were up 8%.

The stock price rose from Friday’s close of Rs.329.55 to Rs.338 today and it remains very firmly in the green. The stock’s 52-week high is at Rs.387.85.