Bajel Projects shares surge over 12% - What's behind the stock rally? Can it rise further? Experts take

What happened

Bajel Projects shares jumped over 12% after the company announced a Tata Power order worth about Rs.200 crore for Mumbai substation work, and separately reported Gujarat transmission awards totaling Rs.1,500 crore.

Confirmed

Global impact / market context

The two awards add to Bajel's order book, which is the backlog of work it will convert into revenue over time. That gives investors more visibility on future sales and supports the case for steady execution.

Analyst inference

The stock opened above its previous close and reached an intraday high of Rs.175.30. Still, an analyst described it as in a downtrend with a corrective structure, which means a rebound within a weaker trend.

Analyst inference

What to watch

1. The company said Tata Power's order covers engineering, procurement and construction of 400 kV gas-insulated substations at Dharavi and Ghatkopar in Mumbai. Confirmed
2. Watch whether Bajel converts the combined Rs.1,500 crore of new work into revenue and cash on schedule, since delays would weaken the benefit. Proposed
3. One analyst said the corrective phase could extend toward the prior swing low of Rs.135, implying downside risk if the recent bounce loses momentum. Analyst inference

Evidence

• Original source link unavailable