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Bajel Projects Ltd, part of the Bajaj Group, has secured a ₹200 crore order from Power Grid Corporation of India Ltd, designated for a 765 kV AIS Extension Substation Package to expand the Mandsaur Power Station. The project, awarded through SPV Mandsaur I RE Transmission Ltd, is expected to be completed within 18 to 30 months and aims to enhance renewable energy integration into the power grid.

Despite this positive development, Bajel's shares traded at ₹164.15, down from ₹170, reflecting a 33% decline over the past six months. The company's Q3 FY26 results showed a revenue drop to ₹562.3 crore and a net loss of ₹0.42 crore, with an order book decrease to ₹2,912 crore.