Bondada Eng hits 5% UC

Bondada Engineering is in the limelight today; from its close of Rs.2210.30, the stock opened itself at its 5% UC of the day at Rs.2320.80, a new 52-week hight too. Some 7400 shares were traded.

The stock price soared after the company announced that it has received the Letter of Award for Balance of System (BOS) work for setting up 600MW Grid Connected Solar Power Project including the O&M for three years after SCOD at Khavda, Gujarat. The order is valued at Rs.939 crore.

NLC had placed another order in Feb’24 worth Rs.81 crore for a solar power project.

The company is engaged in integrated infrastructure sector, offering engineering, procurement, and construction (EPC) and operations and maintenance (O&M) services. It had come out with an IPO in August’23 on the BSE SME platform and the IPO was priced at an unbelievable Rs.75/share and it got listed at Rs.142. Today, in less than a year, it is up 31-times.