Bajaj Electricals has bagged orders for Rural/Urban Electrification projects in the State of Uttar Pradesh from Madhyanchal Vidyut Vitaran Nigam (MVVNL) aggregating worth Rs 35.77 billion.

The projects shall be completed within 15 months from the date of issue of LoI, the company said in the filing.

The stock had underperformed the market over the past one month till Apr. 16, 2018, rising 1.05% compared with the Sensex's 3.40% rise. It outperformed the market in past one quarter, gaining 11.14% as against 1.34% fall in the Sensex.

Shares of the company gained Rs 39.6, or 6.41%, to trade at Rs 657.20. The total volume of shares traded was 256,117 at the BSE (11.26 a.m., Tuesday).