Mangal Electrical Shares Jump 5% After PowerGrid Approval

Mangal Electrical Industries Ltd shares jumped 5% to a high of Rs 316.75, trading at Rs 314.55 after approval renewal.
Power Grid Corp renewed manufacturer approval for MEL’s CRGO coil slitting and lamination cutting up to 765 kV, valid until April 22 2029.
MEL’s Q3FY26 sales rose to Rs 156 cr, operating profit fell to Rs 19 cr, net profit Rs 13 cr, with 74% 5‑year profit CAGR.
The renewal supports continued participation in PowerGrid’s high‑voltage transmission projects, enhancing credibility and future order inflows.