Bajaj Electricals gained 4.44% to Rs 178.60 at 09:56 IST on BSE, after the company's engineering and project business unit bagged power distribution projects worth Rs 757 crore under Rajiv Gandhi Gramin Vidyutikaran Yojna scheme.
The company announced the orders win after market hours on Wednesday, 6 November 2013.
Meanwhile, the BSE Sensex was up 3.99 points, or 0.02%, to 20,898.93
On BSE, 54,389 shares were traded in the counter as against average daily volume of 29,186 shares over the past one quarter.
The stock hit a high of Rs 183.10 and a low of Rs 177 so far during the day. The stock had hit a 52-week high of Rs 219.50 on 13 December 2012 and a 52-week low of Rs 149.85 on 7 August 2013.
The small-cap stock outperformed the market over the past one month till 6 November 2013, rising 5.93% compared with the Sensex's 4.92% jump. The scrip, however, underperformed the market in the past one quarter, gaining 6.67% as against Sensex's 11.54% rise.
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The company has an equity capital of Rs 19.95 crore. Face value per share is Rs 2.
Bajaj Electricals said that the company's engineering and project business unit bagged power distribution projects worth Rs 757 crore under RGGVY (Rajiv Gandhi Gramin Vidyutikaran Yojna) scheme.
Bajaj Electricals said that the company received an order worth Rs 213.43 crore for supply and erection of 33/11 KV PSS, augmentation of 33/11 KV PSS, 33 KV lines, 11 KV lines, 11/04 KV distribution sub stations, LT lines, BPL service connection with metering and other allied works for village electrification covering 622 villages and 2,21,900 consumers. The order was received from North Power Distribution Company for Kishanganj District, Bihar.
The company received second order worth Rs 354.42 crore for construction of 33/11 KV PSS, 33 KV lines, 11 KV lines, LT lines and to provide BPL connection and allied works on turn-key basis covering 1096 villages and 3,68,334 BPL consumers. The order was received from North Power Distribution Company for Purnia District, Bihar.
The company bagged third order worth Rs 189.09 crore for construction of 33/11 KV PSS, 33 KV lines, 11 KV lines, LT lines and to provide BPL connection and allied works on turn-key basis covering 999 villages and 2,36,433 consumers. The order was received from South Bihar Power Distribution Company for Bhojpur District, Bihar.
Bajaj Electricals' net profit dropped 94.5% to Rs 0.66 crore on 17.7% rise in net sales to Rs 781.64 crore in Q1 June 2013 over Q1 June 2012.
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