Multibagger Bondada Engineering Shares Soar 5% After ₹1,132 Crore Solar Project Win | Stock Market Buzz

Bondada Engineering’s stock price went up by 5% on Friday after the company won two big contracts worth ₹1,132.25 crore. These contracts are for building solar power plants in different districts of Maharashtra under the MSKVY 2.0 scheme.

The first contract, worth ₹763.16 crore, includes designing, building, installing, and testing a solar power plant with a 33/11 kV capacity. It also covers three years of maintenance after the plant is up and running.

The second contract, worth ₹369.08 crore, focuses on a similar project but doesn’t include solar panels, as they will be provided by MAHAGENCO. Both projects aim to convert agricultural power sources to solar energy and will also have a three-year maintenance period.

Bondada Engineering’s stock price has risen by an impressive 1,380.33% over the past year, beating its sector by 1,330.5%, according to trendlyne data. The stock opened at ₹610 on the BSE, hitting a high of ₹634.05 and a low of ₹598.80 during the day. By the end of Friday’s session, Bondada Engineering’s market value stood at ₹6,639.39 crore.

Recent Contract Wins

Last month, Bondada Engineering secured another big contract worth ₹468 crore from KPI Green. This deal is for setting up a 130 MWp/100 MWac solar power facility, which is expected to be completed within the next 12 months.

In September, Bondada Engineering’s subsidiary, Bondada Green Engineering, won orders worth ₹10.20 crore from Bharti Airtel. These orders involve supplying telecom poles for the company’s telecom infrastructure.

Bondada Engineering is a key player in building telecom towers and providing related infrastructure services. On Friday, the company’s stock price closed 1.79% higher at ₹614.70 on the BSE.