Bajaj Electricals lights up

Bajaj Electricals is the second top gainer on the BSE currently. The stock price surged over 6.5% within moments of opening and hit a new high today at Rs.663.55.

Exactly a week ago, the company was in the limelight after it stated that it had bagged orders worth Rs.2389 crore from Purvanchal Vidyut Vitran Nigam Ltd for rural electrification projects.

And the news today is that its Engineering & Project Business unit has got orders for ten Rural/Urban Electrification projects aggregating worth Rs.3,578 crore from MWNL under the Saubhagya Yojna of Government of India.

The locations covered in this project are - Baudan & Bareli, Lucknow & Unnao, Shajanpur & Pilibhit, Sultanpur & Amethi, Sitapur, Hardoi, Faizabad, Barabanki, Gonda and Ambedkar Nagar districts in the State of Uttar Pradesh.

This project is to be completed within 15 months from the date of issue of LOI.