Bondada Engg bags order worth ₹1,132 Crore; stock jumps ~5%

11 Oct 2024 , 02:43 PM

Bondada Engineering shares rose 5% on October 11 after the company received two orders totalling ₹1,132 Crore.

The company has received two EPC (Engineering, Procurement, and Construction) contracts under the MSKVY 2.0 initiative for the building of crystalline ground-mounted solar PV generating plants in distinct districts of Maharashtra.

The first contract, worth ₹763.16 Crore, covers the design, engineering, supply, erection, testing, and commissioning of a solar PV plant, as well as three years of operation and maintenance on an EPC basis at a 33/11 kV capacity.

The second deal, for ₹369.08 Crore, covers a similar scope but excludes PV module supply, which would be provided by MAHAGENCO. Both contracts aim to solarise agricultural feeders in the state and have a three-year operation and maintenance tenure.

The announcement of the order wins also caused a surge in volumes on the counter. So far, up to five lakh shares have changed hands, exceeding the one-month daily trading average of one lakh shares.

Bondada also received an order for ₹468 Crore from KPI Green last month for the supply and installation of a solar power producing facility of 130 MWp/100MWac capacity. The order is scheduled to be completed over the next 12 months.

At around 2.07 PM, Bondada Engg was trading 2.67% higher at ₹620, against the previous close of ₹603.90 on NSE. The counter touched an intraday high and low of ₹634.05, and ₹598.80, respectively.

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