India's Bajaj Electricals up on $68 mln contract win from Power Grid

Bajaj Electricals

16/10/2023 04:51

** Shares of Bajaj Electricals  BJEL.NS  rises as much as
6.9% to 1,148 rupees, their highest since July 20
    ** Consumer and industrial goods company wins contract worth
5.64 bln rupees ($67.8 mln) from Power Grid Corp of India
 PGRD.NS  
    ** BJEL on track to rise for fifth straight session, if
gains hold
    ** Over 58,000 shares change hands as of 09:19 IST, 0.8x the
30-day moving average
    ** Thirteen of the 17 analysts rate stock "buy" or "strong
buy", three "hold", while one recommend s"sell"; median PT is
1,354 rupees - LSEG data
    ** Including day's move, stock up ~5% YTD
    


($1 = 83.2450 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))