Rajesh Power Services shares reacted to news of securing a fresh Rs 1,628.74 crore order, rising over 3.5 per cent in early trade on Thursday, November 5. The power sector stock started the session in green at Rs 849, up from the previous close of Rs 822.80 on BSE.
The uptick momentum in the share got fuel after the company announced securing fresh turnkey orders, with the stock hitting an intraday high at Rs 852, up 3.54 per cent from the previous close.
Meanwhile, its 52-week high and low values stood at Rs 1,465 and Rs 705, respectively.
Secures Rs 1,628.74 Crore Order
The Ahmedabad-based company, in an exchange filing, informed that it has secured a fresh order worth Rs 1,628.74 crore for turnkey from Dakshin Gujarat Vij Company Limited. The order took the company's order book to around Rs 5,400 crore, giving a boost of 35 per cent to expansion from Rs 4,000 crore prior to this order.
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"Under the 24-month turnkey project, Rajesh Power will convert existing 11/22kV HT & LT overhead electricity distribution networks into modern underground cable systems with SCADA-compatible equipment across multiple locations under DGVCL’s SI Scheme," the company said in an exchange filing.
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Stock Price History
The power stock has been volatile since it got listed last year. As per data from BSE Analytics, the Rajesh Power Services shares rose 10 per cent in a week, while they are up 7 per cent in last fifteen days.
Timeframe | Return/Performance |
|---|---|
1 Week | +10.5% |
2 Week | +7.5% |
3 Months | -3% |
6-months | -11% |
Year to Date | -21.7% |
1 Year | -43% |
Share Market Today
Sensex and Nifty soared nearly 2 per cent in early trade on Thursday after a rally in the US market following US midterm election results, a sharp decline in crude rates, and firm global cues. BSE Sensex soared 1,621 points to an early high of 78,922.44, up from the previous close of 77,301.40. NSE's Nifty50 soared 431.35 points to a high of 24,391.95.
Disclaimer: This story is for informational purposes only. It should not be considered investment advice.