Bondada Engineering shares: Multibagger stock locked at 5% upper circuit, hits 52-week high on order win worth ₹575 cr

Bondada Engineering share price was locked in at 5% upper circuit on Tuesday after the company announced a receipt of an order worth ₹575.74 crore. Bondada Engineering shares were freezed at a 52-week high of ₹3,684.45 apiece on BSE.

Bondada Engineering said it has received a Letter of Award from Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy, the special purpose vehicles formed by Paradigm IT Technologies and Metalcraft Forming Industries.

The letter of award is for the PM - KUSUM Solar projects across various districts in the state of Maharashtra under Mukhyamantri Saur Krushi Vahini Yojana 2.0.

The scope of work includes Design, Survey, Supply, Installation, Testing, Commissioning of grid connected distributed Solar Power Plants.

These plants are for solarization of selected Agri feeders at Substation (SS) level in MSEDCL jurisdiction. The project also includes associated 11 kV line to connect the plant with concerned SS and Remote Monitoring System (RMS) of solar power plants, Bondada Engineering said.

The total contract value for a project is ₹575.74 crore, it added.

Bondada Engineering share price history

Bondada Engineering is a smallcap multibagger stock that was listed on stock exchanges on August 30, 2023. Bondada Engineering shares have rallied more than 13% in one week and over 23% in one month.

The multibagger stock has doubled investors’ money in the past three months as it surged 105%, while the smallcap stock has given staggering returns of more than 827% year-to-date (YTD).

Bondada Engineering is an EPC services provider which made a stellar stock market debut on August 30, 2023. Bondada Engineering shares were listing at ₹142.50 apiece on the BSE SME, a strong premium of 90% to the issue price of ₹75.00 per share.

Bondada Engineering stock price is up by a massive 2,485% from its listing price and 4,812% from its IPO price.

At 9:50 am, Bondada Engineering shares were still locked at 5% upper circuit of ₹3,684.45 apiece on BSE.

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