Bajel Projects share price rose sharply on March 16 after the company announced a major engineering, procurement, and construction (EPC) contract worth over ₹700 crore. The order was awarded by Maharashtra State Electricity Transmission Company Ltd (MSETCL), boosting investor sentiment and driving the stock higher during early trading.
Bajel Projects share price (NSE: BAJEL) climbed as much as 12.8% to ₹158 per share, marking its biggest intraday gain in nearly a year.
Later in the morning, the stock was trading around ₹153.3, still up 9.6%, even as the benchmark index Nifty 50 slipped about 0.07%. The rally also ended a two-day losing streak in the stock.
The company said it has received an EPC order for power transmission infrastructure from MSETCL. The project will be executed on behalf of Saswad Transmission Ltd, a special purpose vehicle.
The project includes the construction of a 400/220 kilovolt air insulated switchgear (AIS) substation at Saswad in Pune district, Maharashtra.
The scope of the project includes:
The project will be carried out on a turnkey basis and is expected to be completed within 23 months from the notification of award.
Rajesh Ganesh, Managing Director and CEO of Bajel Projects Ltd, said the order strengthens the company’s RAASTA 2030 strategy, which focuses on expanding into high-value and complex infrastructure projects.
He added that the project will also strengthen the company’s relationship with one of India’s key state transmission utilities.
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Despite Monday’s strong rally, the stock has faced pressure earlier this year. Shares of Bajel Projects Ltd have declined about 11.7% in 2026 so far, while the benchmark Nifty 50 has gained around 11.4% during the same period.
The company currently has a market capitalisation of about ₹1,765 crore.
The ₹700 crore EPC order from MSETCL has significantly boosted investor confidence in Bajel Projects Ltd. The project not only strengthens the company’s order book but also supports its strategy of focusing on large and complex power infrastructure projects.
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Published on: Mar 16, 2026, 10:16 AM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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