Multibagger Bondada Engineering shares gain after ₹1,132 crore order win | Stock Market News
Source: Live Mint
Multibagger Stock: Bondada Engineering share price experienced a 5% increase on Friday’s session after the company secured two engineering, procurement and construction (EPC) contracts worth a total of ₹1,132.25 crore under the MSKVY 2.0 scheme for the construction of crystalline ground-mounted solar PV power plants in different districts of Maharashtra.
The initial contract, valued at ₹763.16 crore, includes the design, construction, supply, installation, testing, and commissioning of the solar PV facility, as well as three years of operational and maintenance services on an EPC basis at a 33/11 kV capacity.
The second contract, worth ₹369.08 crore, focuses on a similar scope, except for the provision of PV modules, which will be supplied by MAHAGENCO. Both contracts aim to convert agricultural feeders to solar power in the area and entail a three-year period of operational and maintenance services.
Bondada Engineering saw a remarkable increase of 1,380.33% in its stock price over the past year, surpassing its sector by 1,330.5%, according to trendlyne data. Bondada Engineering share price today opened at ₹610 apiece on the BSE, the stock touched an intraday high of ₹634.05 and an intraday low of ₹598.80. On Friday, the total market capitalisation of the company stood at ₹6,639.39 crore.
Latest Order Wins
An additional contract for ₹468 crore was obtained by Bondada Engineering last month from KPI Green. This deal included the installation and delivery of a 130 MWp/100 MWac solar power producing facility. Within the following twelve months, the order is expected to be carried out.
In September, Bondada Engineering announced that its subsidiary, Bondada Green Engineering (BGEPL), has been awarded work orders from Bharti Airtel amounting to ₹10.20 crore for the provision of 8-meter high poles weighing 82kg, including plate, bracket, and cross-section for cable GBPA for GI poles, as well as the supply of 6-meter high GI poles weighing 60kg (hot-dipped galvanised) without base GBPA for GI poles.
Bondada Engineering is a renowned provider of passive telecom network infrastructure, and its services include building, constructing, operating, and repairing telecom towers.
On Friday’s session, Bondada Engineering share price ended 1.79% higher at ₹614.70 apiece on the BSE.
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