Shares of Bajel Projects Ltd. (BPL) experienced a sharp rally on Thursday, May 14, 2026, surging nearly 17% to hit a high of Rs 199.80 in early trading. The smallcap counter, part of the Bajaj Group, saw this significant jump following the announcement of securing two substantial orders for transmission and substation projects.
Key Project Wins Drive Stock Rally
The company, an engineering, procurement, and construction (EPC) firm, confirmed bagging a major order for a 400kV transmission line. This project is part of the Bellary–Davanagere renewable energy (RE) evacuation scheme, crucial for integrating an additional 0.25 GW at Davanagere and 2.75 GW at Bellary into the national grid. The contract involves constructing approximately 70 kilometers of a 400kV (Quad) D/c transmission line connecting the Bellary Substation to the Davanagere Substation.
Bajel Projects emphasized that this addition further strengthens its 400kV and above order book, showcasing its engineering expertise and capacity to deliver critical transmission infrastructure at scale.
Strengthening Maharashtra's Grid
In addition to the transmission line, Bajel Projects secured another significant order for a 765kV AIS (Air Insulated Substation) package in Maharashtra. This project is a vital component of the "Network Expansion Scheme in Maharashtra for removal of Transmission constraints in Pune Region-I (765/400 kV AIS Pune East)."
The initiative aims to reinforce the grid in one of India's most industrially significant load centers. The scope of work includes establishing a new 765/400kV AIS Substation at Pune East, along with extending the existing 400kV Karjat (AIS) and 400kV Lonikand-II (AIS) Substations within Maharashtra.
Bajel Projects classifies an order within the Rs 200-300 crore range as 'major'.
About Bajel Projects Ltd.
Formerly a division of Bajaj Electricals Ltd., Bajel Projects Ltd. operates across four primary business verticals: power transmission, power distribution, monopoles, and international EPC. The company also boasts a manufacturing facility located at Ranjangaon MIDC in Pune, equipped with modern machinery to support its extensive operations.