Bondada Eng at new high and 5% UC

Bondada Engineering is one loud buzzing stock today; from its close of Rs.3509, it opened itself at its 5% UC of the day at Rs.3684.45, a new 52-week high, where it stays locked.

The stock hit the roof on the company’s announcement that it has won a Rs.576 crore contract from Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy for a 170.40 MW power project. This is spread across various districts in the state of Maharashtra under Mukhyamantri Saur Krushi Vahini Yojana 2.0.

Lumina, Purelight and VVKR are special purpose vehicles (SPV’s) formed by the PPA owners namely Paradigm IT Technologies Pvt Ltd and Metalcraft Forming Industries Pvt Ltd, both are software companies based out of India.

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

Next week, the company will be back in focus as on 2nd Sept, will be its record date for stock split – Rs.10 FV share to be split into 5 new equity shares of Rs.2 each.