Bajaj Electricals shares soar over 5% after Rs 564 crore deal with Power Grid

Bajaj Electricals shares are flying higher by 5.21 per cent, or Rs 55.90, at Rs 1,128.10 apiece, on BSE on Monday after the Bajaj group company inked a Rs 564.20 crore deal with Power Grid Corporation of India. 

The Bajaj Electricals stock closed at Rs 1,072.20 on Friday evening and opened at the day's high of Rs 1,167.95 on Monday. 

There was 8.22 times spurt in the volume of the stock in the morning deals on Monday, as per the BSE website. 

Bajel (resulting company), through its letter dated October 13, 2023 ('Letter'), has notified the company of being awarded a service contract by Power Grid Corporation of India Limited, aggregating to Rs. 564.20 crore ('Contract'), Bajaj Electricals said in a BSE filing on Monday.

Bajaj Electricals Share Performance 

The stock's performance on Monday was in stark contrast to its performance in the last five trading sessions when the shares have jumped 5.78 per cent. 

The stock's 52-week high and 52-week low have been Rs 1247.67 and Rs 935.35, respectively.