Bajaj Electricals Ltd.'s shares jumped more than 3 percent on Monday after the company announced bagging orders worth Rs 565 crore from South Bihar Power Distribution Company Ltd. (SBPDCL).
The Mumbai-headquartered company said that the EPC business segment (power distribution) of Bajaj Electricals has won contracts for the supply of goods and services by SBPDCL under the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme (RDSS) through national competitive bidding.
The scope of work includes the supply of plant and installation services. The company will develop the distribution infrastructure of the electric supply circle of Sasaram for the Rohtas and Kaimur districts, and the distribution infrastructure of the electric supply circle 'Munger' for the Lakhisarai and Munger districts of Bihar.
The projects will be completed within 30 months from the date of issue of the contracts.
Bajaj Electricals provides solutions for lighting and luminaries, electrical appliances, LPG-based generators, and engineering and projects.
The company reported a 12.5 percent growth in total sales to Rs 1,484 crore in the December quarter compared to Rs 1,320 crore a year ago.
While the turnover of the consumer products segment crossed the Rs 1,000 crore milestone in the December quarter at Rs 1,039 crore, the EPC segment revenue spurted by 86.7 percent to Rs 175 crore from Rs 94 crore a year ago.
The Bajaj Electricals stock is trading 0.56 percent higher at Rs 1,109.
(Edited by : Rukmani Krishna)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Gonda Lok Sabha election: BJP's Kirti Vardhan Singh takes on Beni Prasad Verma's granddaughter Shreya
May 19, 2024 10:19 PM
Faizabad Lok Sabha election: Can Ayodhya Ram Temple strengthen BJP's stronghold here?
May 19, 2024 10:16 PM
Amethi Lok Sabha election: Can BJP's Smriti Irani retain the Congress bastion she won in 2019?
May 19, 2024 10:12 PM
Rae Bareli Lok Sabha Election: Can Rahul hold on to this Gandhi family bastion?
May 19, 2024 10:09 PM