11 Oct , 2024 By : Debdeep Gupta
Shares of Bondada Engineering climbed 5 percent on October 11 after the company bagged two orders, worth a cumulative total of Rs 1,132 crore.
The company has secured two EPC (Engineering, Procurement, and Construction) contracts under the MSKVY 2.0 scheme for the development of crystalline ground-mounted solar PV power plants across various districts of Maharashtra.
The first contract, worth Rs. 763.16 crore, involves 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 kV capacity.
The second contract, valued at Rs. 369.08 crore, focuses on a similar scope, excluding PV module supply, which will be provided by MAHAGENCO. Both contracts aim to solarise agricultural feeders in the state and include a three-year operation and maintenance period.
At 10.13 am, shares of Bondada Engineering were trading at Rs 618 on the NSE. Along with today's upmove, shares of Bondada Engineering have delivered multi-bagger returns of over 665 percent year-to-date.
The news of the order wins also triggered a spike in volumes in the counter. As many as five lakh shares changed hands so far, higher than the one-month daily traded average of one lakh shares.
Last month, Bondada also secured an order worth Rs 468 crore from KPI Green, which involved the supply of materials and installation of a solar power generation plant 130 MWp/100MWac. The order is slated to be executed over the span of the next 12 months.
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