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Bajaj Electricals shares surge 7% on order win of Rs 35.78 billion in UP

SI Reporter/Mumbai 17 Apr 18 | 09:27 AM

Bajaj Electricals

Shares of Bajaj Electricals have surged 7% to Rs 660 per share on the BSE in early morning trade after the company said it has bagged orders worth of Rs 35.78 billion for rural/urban electrification projects in the state of Uttar Pradesh from Madhyanchal Vidyut Vitaran Nigam Limited (MVVNL).

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The projects shall be completed within 15 months from the date of issue of LoI, the company said in the filing.

The contract is for work of rural/urban electrification and related work on turnkey basis under the Saubhagya Yojna of Government of India, it added.

At 09:24 am; the stock was trading 5.5% higher at Rs 653 on the BSE, as compared to a marginal 0.04% rise in the S&P BSE Sensex. It was quoting close to its 52-week high of Rs 664, touched on April 4, 2018 on the BSE in intra-day trade.

A combined 8.22 million shares changed hands on the counter on the NSE and BSE so far.

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