Bajel Projects jumps 12% after securing ₹200 crore Tata Power order

Bajel Projects’ shares leapt more than 12% on Tuesday after the company announced a ₹200 crore order from Tata Power for 400 kV gas‑insulated substations in Mumbai. The stock opened at ₹171.90, up from the previous close of ₹156.15, and touched an intraday high of ₹175.30. The order covers EPC work at Dharavi and Ghatkopar. A separate filing revealed that Lakadia A Power Transmission Limited has issued multiple letters of award to Bajel for a key transmission project in Gujarat, together worth ₹1,500 crore. Analyst Aditya Thukral of AT Research said the firm is in the final stage of its corrective phase but may still dip to its earlier swing low of around ₹135. He noted the stock is in a downtrend, forming lower highs and lower lows, and warned that each rise toward the ₹172‑₹177 resistance zone could be an exit point. Thukral added that a bullish turn would need the price to linger near current levels and build a base. Vipin Kumar of Globe Capital Market observed that the shares have swung between ₹135 and ₹215, with weak volume distribution. He said a decisive close above the ₹175‑₹180 band could push the price toward ₹200, while immediate support lies near ₹145‑₹135. ## Context In Indian markets, large EPC orders often trigger short‑term buying spikes, especially when a company is emerging from a corrective restructuring. Technical analysts watch resistance zones and volume patterns to gauge whether a rally can sustain beyond the initial hype.