Bajaj Electricals up over 4%

Bajaj Electricals which has closed yesterday at Rs.171, opened today at Rs.177 and went on to hit an intra day high at Rs.183 and it has come off those levels and is currently at Rs.178.70, up 4.5% though volumes remain muted.

The stock is up after the company announced yesterday late evening that its Engineering & Project Business unit of the company had bagged Power Distribution Projects worth Rs. 757 crore, under RGGVY (Rajiv Gandhi Gramin Vidyutikaran Yojna) Scheme.

One order was Rs.213 crore for village electrification covering 622 villages and 2,21,900 consumers, received from North Power Distribution Company for Kishanganj District, Bihar. The second order worth Rs.354 crore is to provide BPL connection and allied works on turn-key basis covering 1096 villages and 3,68,334 BPL consumers, from North Power Distribution Company for Purnia District, Bihar. The third order worth Rs.189 crore was from South Bihar Power Distribution Company for Bhojpur District, Bihar, t. to provide BPL connection and allied works on turn-key basis covering 999 villages and 2,36,433 consumers.