Bajaj Electricals rose 7.07% to Rs 663 at 9:41 IST on BSE after the company said it bagged orders worth Rs 3577.93 crore for rural and urban electrification projects in Uttar Pradesh.
The announcement was made after market hours yesterday, 16 April 2018.Meanwhile, the S&P BSE Sensex was up 38.27 points, or 0.11% to 34,343.70.
On the BSE, 1.73 lakh shares were traded in the counter so far compared with average daily volumes of 79,000 shares in the past two weeks. The stock had hit a high of Rs 665.85 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 640.30 so far during the day. The stock hit a 52-week low of Rs 294.50 on 11 August 2017.
Bajaj Electricals announced that its engineering and project business unit bagged orders for ten rural/urban electrification projects in Uttar Pradesh aggregating worth Rs 3577.93 crore from Madhyanchal Vidyut Vitaran Nigam (MVVNL) under the Saubhagya Yojna of Government of India. The projects shall be completed within 15 months from the date of issue of letter of intent (LOI).
Net profit of Bajaj Electricals rose 23.96% to Rs 36.83 crore on 9.01% rise in net sales to Rs 1140.70 crore in Q3 December 2017 over Q3 December 2016.
Bajaj Electricals business is spread across consumer products (appliances, fans, lighting), exports, luminaires and EPC (illumination, transmission towers and power distribution).
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