Bondada Engg jumps ~5% on ₹468 Crore order win

27 Sep 2024 , 02:59 PM

Bondada Engineering shares rose 5% in early session on September 27 after the business announced a ₹468 Crore order from KPI Green.

At around noon, the stock was trading at ₹620 on the NSE. The announcement of the order win has boosted trading volumes in the counter, with two lakh shares changing hands so far, exceeding the one-month daily traded average of one lakh.

The order is for the procurement of materials and installation of a solar power producing plant of 130 MWp/100 MWac. The order is scheduled to be executed over the following 12 months.

Last month, the business signed a ₹575.74 Crore contract with Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy for a 170.40 MW solar power project. This effort is part of the Mukhyamantri Saur Krushi Vahini Yojana 2.0, which is being implemented throughout numerous districts in Maharashtra as part of the PM-KUSUM Solar Project.

The project includes the design, surveying, supply, installation, testing, and commissioning of grid-connected distributed solar power plants.

Aside from today’s rally, Bondada Engineering shares had been under pressure for the past month, plunging more than 15%.

At around 1.22 PM, Bondada Engineering was trading 3.72% higher at ₹620, against the previous close of ₹597.75 on NSE. The counter touched an intraday high and low of ₹593.05, and ₹590, respectively.

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