Mega PowerGrid and Private Deals Propel Bajel to Upper Circuit; Strengthens EPC Portfolio

Mumbai, July 9, 2025 – Shares of Bajel Projects Ltd hit the 5 per cent upper circuit during early trade on Wednesday. This was after the expansion reports of its galvanisation capacity at the Ranjangaon facility, which will increase by more than 100% of the current levels. The company also reported receipt of a mega order from PowerGrid. The order is expected to generate substantial revenue over the next 18 months and will significantly bolster the company’s order book.

At 10:45 AM, the stock traded at ₹251.20 (5% more than the previous close).

Strong Market Reaction to Capacity Expansion

At 9:55 AM, Bajel Projects shares were locked in the upper circuit at ₹252.35, with a market capitalization of ₹2,917.23 crore. This rally came despite the broader BSE Sensex slipping 0.14 per cent to 83,598.29.

The stock’s upward momentum was driven by the company’s announcement to expand its galvanisation capacity at the Ranjangaon facility from 40,500 MTPA to 1.1 lakh MTPA, backed by an investment of ₹170 crore. The capacity expansion will be executed in phases, beginning in Q4 FY26 and completing by Q4 FY27.

Mega Order From PowerGrid Boosts Sentiment

Investor sentiment was further bolstered by the announcement of a major order win from Power Grid Corporation of India Ltd (PGCIL). The order, valued between ₹300 crore and ₹400 crore, covers the construction of a 99-kilometre, 400kV double-circuit transmission line under Package TL04 of the REZ Phase IV (6GW) Bikaner Complex. This project will be executed by Power Grid Siwani Transmission Ltd, a special-purpose vehicle of PGCIL, and is expected to be completed within 18 months.

Additional Large Order for Substation Project

In a further boost to its order book, Bajel Projects recently secured a ‘Large’ order for a domestic substation project involving the development of a 400kV GIS and 765kV AIS extension substation.

About Bajel Projects

Bajel Projects, formerly the EPC division of Bajaj Electricals Ltd, is a prominent player in the power infrastructure sector, with a strong presence in both power transmission and distribution. The company is well-regarded for its project management capabilities and has built a trusted reputation among state and national utilities, international clients, and private infrastructure developers.

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