Bajaj Electricals, a prominent subsidiary of the Bajaj Group, experienced a notable surge of approximately 9% in its share value on October 16th. However, this uptick couldn’t sustain throughout the day. The stock closed at a price of ₹1086 on the BSE, marking a 1.29% increase. The company’s market capitalization has risen to ₹12,500.07 crores, with its 52-week high being ₹1,247.67. It is noteworthy that Bajaj Electricals’ shares have closed in the green for the fifth consecutive day.
On October 13th, as per a regulatory filing, Bajaj Electricals informed exchanges that it had won a service contract from the Power Grid Corporation of India Limited. The value of this contract stands at ₹564.20 crores and encompasses two transmission line packages. Bajaj Electricals anticipates the completion of these projects within 21 months from the issuance date of their respective NOA/LOA.
In terms of performance, Bajaj Electricals’ shares have risen by around 4% in the past six months. However, the shares have declined by 9% year-to-date. Over the last year, investors have incurred a 5% loss, but in a broader perspective, the past three years have seen a hefty profit of 111%.
Bajaj Electricals is an integral part of India’s leading business conglomerate, the Bajaj Group. Its business operations span across consumer products, including appliances, fans, and cookware; lighting solutions for both consumers and professionals; and EPC (power transmission and distribution). With renowned brands under its belt, such as BAJAJ, Morphy Richards, and Nirlep, Bajaj Electricals stands as a titan in its industry.