Multibagger Alert: This mid-cap company bags projects worth Rs 564.87 crore!
The stock gave returns of over 183 per cent in the past 3 years.
Today, shares of Bajaj Electricals Ltd surged 4.75 per cent to an intraday high of Rs 1,155.55 per share from its previous closing of Rs 1,103.15. At, 03:30, shares of the company ended the day in the red, down 0.48 per cent to Rs 1,097.85 per share.
The company in its latest press release announced that it has bagged projects for the supply of plant and installation services, for the development of 1) Distribution infrastructure of electric supply circle sasaram (Rohtas and Kaimur districts). 2) Distribution infrastructure of electric supply circle Munger (Munger and Lakhisarai districts) of Bihar, under “Revamped Reforms-Based and Results-Linked Distribution Sector Scheme (RDSS)”, through national competitive bidding, from the South Bihar Power Distribution Company Limited (“SBPDCL”) aggregating to Rs. 564.87 crore (excluding taxes).
Bajaj Electricals Limited is a part of the Bajaj Group of companies and is a leading FMEG company spread across consumer products and EPC sectors. It also has a presence in premium home appliances and cookware segments with brands like Morphy Richards and Nirlep.
Talking about the financials, Bajaj Electricals has a market cap of 12,629 crore. In the latest Quarterly Results, that is in Q3FY22, net sales rose 13 per cent and net profit rose 23 per cent over Q3FY22.
Today, shares of the company saw a spurt in volume by more than 4.75 times on BSE. The stock gave returns of over 183 per cent in the past 3 years. Investors should keep an eye on this multibagger stock.