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Bondada Engineering’s shares experienced a noteworthy uptrend, surging by 3 percent on February 29, marking a positive development for investors.
The current trading value stands at Rs 900, reflecting a 0.57 percent increase. This surge is attributed to the recent announcement of a substantial order, valuing Rs 81 crore, from NLC India Limited.
The market capitalization of Bondada Engineering currently stands at Rs 1,944.19 crore. Notably, the 52-week high and low for the stock are Rs 949.95 and Rs 142.50, respectively.
NLC India Limited’s decision to award a significant work order to Bondada Engineering for the Balance of System (BOS) work related to the SOMW Solar Power Project has been a key driver for the recent positive market sentiment.
The order, amounting to Rs 81,34,02,405 (inclusive of GST), also includes Operation and Maintenance (O&M) responsibilities for a duration of three years.
The stipulated timeframe for the completion of this project is 15 months.
In addition to the NLC India order, Bondada Engineering had previously secured a contract in February 2024 from Sundrops Energia Private Limited.
This earlier deal, valued at Rs 4,93,17,121 (including GST), was for the supply of equipment for solar power plants, further contributing to the company’s robust financial outlook.
Bondada Engineering’s shares have demonstrated remarkable returns for investors, establishing it as a multibagger stock.
Over the last month, the stock has witnessed a remarkable surge of 33 percent, while the six-month and one-year returns stand at an impressive 475 percent and 501 percent, respectively.
This stellar performance has translated into substantial profits for investors, with the stock doubling in value over the course of the year.
Investors are likely buoyed by the company’s strong order book, solidifying its position in the renewable energy sector.
Bondada Engineering’s ability to secure high-value contracts and deliver on them within stipulated timelines has contributed to its positive market perception.
The company’s continuous growth and the increasing demand for renewable energy solutions are indicative of a promising future for Bondada Engineering and its investors.
Source:
Bondada Engineering Stock gave 475% return in 6 months
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