Bajaj Electricals –Neutral- Angel Securities

Bajaj Electricals has announced that it has won orders worth Rs215 crore, to be executed over the next 16-18 months.

The first order is from Power Grid for Transmission Line Towers and is worth Rs115 crore. The second order, won from the Madhya Pradesh State Electricity

Board, is worth Rs101 crore. This order is a rural electrification project for 90,000 homes. With these orders, the current order book for the E&P division stands at around Rs750 crore, to be executed over the next 18 months.

Since the stock is trading slightly above our current target price of Rs204, we have a NEUTRAL View on it.

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