Bajel Projects jumps 13% on over ₹400 crore MENA transmission order win

Shares of Bajel Projects Limited jumped over 13% from the day’s lows on Tuesday, April 29, after the company secured ultra-mega EPC orders for transmission lines from an international client in the Middle East and North Africa (MENA) region.The orders involve the construction of 500 kV overhead transmission lines across two contiguous sections (Lot 1 and Lot 5) and fall under the company’s “ultra-mega” category, indicating a contract value of over ₹400 crore. The project is to be executed within 11 months from the commencement date.

The company said the project is part of a national grid reinforcement programme aimed at strengthening high-voltage transmission infrastructure and enabling reliable power evacuation to support industrial and economic growth in the region.
Also read: Man Infra jumps 7% on ₹2,000 crore South Mumbai redevelopment dealCalling it a “defining moment” for the company, Managing Director and CEO Rajesh Ganesh said, “Being entrusted with a 500 kV transmission corridor in the MENA region reflects the global confidence in our engineering capability and execution rigour.”

He added that the order strengthens the company’s presence in the MENA region, where it has been expanding its footprint through international projects and partnerships.

Bajel Projects said the contract does not involve any related party transactions, and none of its promoters or group companies has any interest in the awarding entity.

Following the announcement, shares of the company surged more than 13% to the day’s highs at ₹201.73 from the intraday lows of ₹178.05. The stock was trading 5.32% up at ₹191.02 as of 12.49 pm. It has gained 39% in the last month.