Ceigall India Limited jumps 4.46% as it wins a Rs 6086.70 million, 35-year transmission system contract

Ceigall India Ltd. is up 4.46% to Rs 338.8, building on recent gains and rising 8.02% over the last week. Ceigall India Limited has been selected as the L1 bidder for a significant transmission system project, securing a contract from REC Power Development and Consultancy Limited for the “Common Transmission System for evacuation of power from Lakadia (Phase -II: 7.5GW), Jam Khambhaliya (Phase -II: 5.5GW) and Jamnagar (Phase -I: 1GW) - Part-B” in Gujarat & Maharashtra. The domestic contract, awarded through a tariff-based competitive bidding process, involves a 765/400 kV AIS Substation with a 300 km transmission line and carries an annual consideration of Rs 6086.70 million for a period of 35 years, with work execution scheduled for 36 months. Ceigall India Ltd. shares saw a trading volume of 10.31 lakh today, a surge of 37.86% compared to the average volume over the last one week. Ceigall India Ltd. jumped by 37.22% year-over-year, outperforming the NIFTY50 index which experienced a 2.54% loss.