Mumbai, January 6 (Udaipur Kiran): Shares of Rajesh Power Services traded higher on Tuesday after the company secured a major Battery Energy Storage System (BESS) project in Gujarat.

The stock was trading at ₹1,063.50, up ₹6.35 or 0.60% from its previous close of ₹1,057.15 on the Bombay Stock Exchange. The scrip opened at ₹1,057.15 and moved between an intraday high of ₹1,066.00 and a low of ₹1,054.00. Around 4,500 shares were traded during the session.

The BSE Group ‘M’ stock, with a face value of ₹10, has touched a 52-week high of ₹1,639.00 on August 22, 2025, and a 52-week low of ₹740.00 on March 4, 2025. Over the past week, the stock has traded in the range of ₹1,006.00 to ₹1,078.00. The company’s current market capitalisation stands at ₹1,916.62 crore.

Promoters hold a 73.40% stake in the company, while institutional and non-institutional investors own 3.84% and 22.76% respectively.

Rajesh Power Services said it has received a Letter of Intent from Gujarat Urja Vikas Nigam (GUVNL) for setting up a 65 MW / 130 MWh standalone Battery Energy Storage System at Virpore in Gujarat. The project marks the company’s entry into utility-scale battery storage solutions.

The project has been awarded under tariff-based competitive bidding with Viability Gap Funding support through the Power System Development Fund. It is expected to be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement.

A 65 MW / 130 MWh battery storage system can deliver 65 MW of power for up to two hours, helping utilities manage peak demand, enhance grid stability, and support renewable energy integration. The project is part of Gujarat’s broader plan to develop 2,000 MW / 4,000 MWh of battery energy storage capacity across the state.

Rajesh Power Services is among the leading players in underground power transmission and infrastructure EPC projects in India.