Small-cap stock Rajesh Power Services surges 18% on order wins; details here

Small-cap stock Rajesh Power Services surged as much as 18 per cent in intraday trade on the BSE on Wednesday, April 23, after the company announced it had secured new orders worth ₹1,116 crores from several government and institutional customers. Rajesh Power Services share price opened at ₹1,053 against its previous close of ₹1,057.20 and rose 18 per cent to an intraday high of ₹1,247. Around 2:40 PM, the small-cap stock traded 12.33 per cent higher at ₹1,187.50.

Rajesh Power Services bags order worth ₹1,116 crore

Through an exchange filing during market hours on April 23, Rajesh Power said it had bagged new orders worth ₹1,116 crore from a "combination of government and institutional customers" in Gujarat.

The company received a turnkey-based contract for the supply, installation, testing and commissioning of 11/22KV HT underground (cable)/overhead (MVCC) network in Gujarat.

Besides, it received orders to design, engineering, manufacturing, supply erection, testing and commissioning of 220/66kV GIS/AIS substations in Gujarat.

It also received orders to supply, erect, test and commission 132kv/66kv underground cable in Gujarat.

The company said these orders are expected to be completed within 12 to 18 months.

Rajesh Power Services share price trend

Rajesh Power Services' share price has been in the green for nine consecutive sessions, gaining 46 per cent.

In April so far, the stock has gained 26 per cent after a 21 per cent gain in March.

The small-cap stock hit its 52-week high of ₹1,270.30 on January 22 this year and a 52-week low of ₹636.50 on December 2 last year.

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