Ceigall India shares jumped nearly 3% after the company received a Letter of Intent for a Rs 5,300 crore transmission project in Gujarat, marking a significant addition to its infrastructure portfolio.
The stock is trading at Rs 354 apiece on NSE, up from its previous close at Rs 347.4.
The order from REC Power Development and Consultancy Ltd. will see Ceigall develop a major power transmission system aimed at evacuating electricity from key renewable energy zones in the state.
Ceigall India Wins Rs 5,300 Crore Transmission Project
The LoI covers the Common Transmission System for evacuation of power from Lakadia Phase-II, Jam Khambhaliya Phase-II and Jamnagar Phase-I – Part-B.
The project involves developing a 765/400 kV Air Insulated Substation along with approximately 300 km of transmission lines. The total project value is around Rs 5,300 crore, including GST, while the execution period has been set at 36 months.
The project also provides Ceigall with a long-term revenue opportunity. The company will receive annual transmission charges of Rs 608.67 crore over the 35-year operational period. The transmission infrastructure will support power evacuation from renewable energy generation regions in Gujarat.
The LoI strengthens Ceigall India's presence in the transmission infrastructure business as the company looks to diversify beyond roads and other traditional EPC projects.
Ceigall India Managing Director Ramneek Sehgal said the project would strengthen the company's presence in the transmission infrastructure segment and contribute to critical power transmission infrastructure in Gujarat.
“This project marks an important milestone in Ceigall India's journey towards strengthening its presence in the transmission infrastructure segment. The project will contribute to the development of critical power transmission infrastructure in Gujarat and support the efficient evacuation of power from key generation regions. With our strong execution capabilities and focus on large-scale infrastructure development, we remain committed to contributing to India's evolving energy and infrastructure landscape while creating long-term value for all our stakeholders,” Sehgal commented.
Ceigall India AGM and Dividend
Separately, Ceigall India has scheduled its 24th Annual General Meeting for Sept. 29, 2026. The company has fixed Sept. 11 as the record date for dividend payment and has declared a 10% dividend, or Rs 0.50 per equity share of face value Rs 5.
Ceigall India Stock Price Movement
Apart from today's rise, the stock has gained over 4% in the past week, and rallied over 30% in 2026 so far.
The latest order, alongside the company's upcoming AGM and dividend payment, has been the key trigger behind today's jump.
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