Stock Market Today: Small-cap stock Bajel Projects hit the 5% upper circuit on Wednesday as it announced plans regarding capacity expansion, thus boosting the investor sentiment.
Bajel Projects Business Update
Bajel Projects’ announcement that came post-market hours related to the manufacturing facilities at the Ranjangaon facility.
The proposed capacity addition being undertaken at the Ranjangaon facility of the company will lead to total galvanization capacity reaching 110,000 MT after completion of the proposed addition. The existing galvanisation capacity of Bajel Projects stands at 40,500 MT, as per the release.
The proposed capacity to be added by Bajel Projects will be during Q4 FY26 to Q4 FY27, and undertaken in phases.
The proposed investment for the capacity expansions by Bajel Projects stands at ₹170 crore, which will be financed through internal accruals as well as through debt, as per the company.
Explaining the rationale for the proposed capacity expansion, Bajel Projects said it would help the company meet captive demand and sales in domestic and international markets.
Bajel Projects share price movement
Bajel Projects share price opened at R 247.90 on the BSE on Wednesday. Bajel Projects’ share price at the time of opening was 3% higher than the previous day’s closing price of ₹240.35. Bajel Projects share price thereafter gained further to an intraday high of ₹252.35, translating into gains of almost 5%.
The intraday high for the Bajel Projects share price was also its upper price band, and hence the Bajel Projects share price was locked in the upper circuit on Wednesday.
The small-cap stock has rallied 65% in the last three months, even as its year-to-date and yearly performance remains tepid, down 9% and 18%, respectively, as per the BSE data.
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