Bondada Engg Stock Zoomed 5% on Rs 1,132 Crore Orders Win
Bondada Engg Stock Zoomed 5% on Rs 1,132 Crore Orders Win
Shares of Bondada Engineering Limited jumped by 5% on October 11 after the company secured two orders, worth a cumulative total of Rs 1,132 crore.
Bondada Engineering has been awarded two EPC (Engineering, Procurement and Construction) contracts under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0 scheme to construct crystalline ground-mounted solar photovoltaic (PV) power plants in various districts across Maharashtra.
In addition to today’s increase, Bondada Engineering’s shares have yielded significant returns of over 665% year-to-date.
The company has obtained two EPC (Engineering, Procurement and Construction) contracts under the MSKVY 2.0 scheme to establish crystalline ground-mounted solar PV power plants in different districts of Maharashtra.
The initial contract, valued at Rs. 763.16 crore, encompasses the design, engineering, supply, erection, testing, and commissioning of the solar PV plant, along with three years of operation and maintenance on an EPC basis at a 33/11 kilovolt (kV) capacity.
The second contract, valued at Rs. 369.08 crore, concentrates on a similar scope, excluding PV module supply, which will be provided by MAHAGENCO, previously known as Maharashtra State Power Generation Company or MSEB. Both contracts aim to solarise agricultural feeders in the state and include a three-year operation and maintenance period.
The announcement of the contract wins also led to a surge in trading volumes. As many as five lakh shares have been traded so far, surpassing the one-month daily traded average of one lakh shares.
Bondada obtained a Rs 468 crore order from KPI Green the previous month. This order included providing materials and installing a 130 MWp/100MWac solar power generation plant. The order is scheduled to be completed within the next 12 months.
At 11:20 am, shares of Bondada Engineering were trading 2.50% higher at Rs 619.00 per share on the NSE.
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