The rally followed the company’s announcement that STEAG Energy Services (India) Pvt. Ltd., its wholly owned step-down subsidiary, has secured an operations and maintenance (O&M) contract for a captive power plant from Vedanta Aluminium Metal (VAML).
According to the company’s regulatory filing, the contract is valued at approximately ₹1,437.17 crore and will be executed over a five-year period beginning in August 2026.
The project involves the operation and maintenance of a 1,215 MW captive power plant, comprising nine units of 135 MW each.
The latest order comes weeks after STEAG Energy Services secured another major O&M contract from Bharat Aluminium Company Ltd. (BALCO) in June 2026, which had triggered a 17% rally in Bluspring Enterprises’ shares.
Earlier this year, Bluspring unveiled a new corporate identity following its demerger from Quess Corp, as the company sharpened its focus on infrastructure services, scale, profitability and diversified growth.
The stock opened at ₹122.99 and climbed to an intraday high of ₹131.82, its fresh 52-week high. Despite easing from the day’s peak, the stock has surged more than 60% over the past month.
At the time of writing, the shares were trading about 4% below their intraday high of ₹131.82.
(Edited by : Meghna Sen)
First Published: Jul 3, 2026 12:02 PM IST
