Bondada Engineering shares gain 5% on winning orders worth ₹465-crore

Bondada Engineering shares gained 5 per cent after it bagged orders worth ₹465 crore from the Maharashtra State Power Generation Company

Shares of Bondada Engineering Ltd. rose nearly 5 per cent on Friday after it bagged orders worth ₹465 crore from the Maharashtra State Power Generation Company. 

 

The company's stock rose as much as 4.8 per cent during the day to ₹423 per share, the biggest intraday rise since October 27 this year. The stock pared gains to trade 3 per cent higher at ₹415 apiece, compared to a 0.45 per cent decline in the BSE Sensex as of 1:58 PM. 

 

Shares of the company gained for the second straight session and currently trade at 4 times the average 30-day trading volume, according to Bloomberg. The counter has risen 31 per cent so far this year, compared to a 7.7 per cent advance in the benchmark Sensex. Bondada Engineering has a total market capitalisation of ₹4,631.13 crore.   CATCH STOCK MARKET LIVE UPDATES TODAY

Bondada Engineering ₹465-crore order win

Bondada Engineering, as the lead member of a consortium, has received a Letter of Award from Maharashtra State Power Generation Company (Mahagenco) for an integrated solar engineering, procurement and construction project that includes land procurement, it said in an exchange filing. 

 

The contract covers identification and acquisition of land, design and engineering, manufacturing, transport, civil and electrical works, permits, commissioning and performance testing for a 100 megawatt (AC) grid-connected mono-crystalline solar power plant at Jiwachiwadi in Beed district, Maharashtra. 

 

It also includes construction of the evacuation system up to the state transmission utility substation and three years of operations and maintenance. This is a domestic EPC order valued at ₹465 crore, inclusive of taxes and duties, and must be executed within 450 days from acceptance of the award.

 

By securing this prestigious order, the company said that it has further strengthened its presence in the renewable energy EPC domain, demonstrating its technical capability, execution expertise and commitment to nation-building through clean energy infrastructure. 

 

In October, the company announced that it secured a letter of intent (LOI) from Adani Group. The scope of work pertained to the supply of goods for the balance of system (BOS) for the 650 MW solar power project at Khavda Renewable Energy Park, Gujarat. 

 

Bondada Engineering is a company based in India, primarily known for its involvement in engineering, construction, and infrastructure-related services. It is known for providing solutions in various sectors, including civil engineering, electrical, mechanical, and other related fields. 

 

It is involved in executing large-scale projects, delivering high-quality engineering services, and working across diverse sectors like industrial, residential, and commercial construction.