Bondada Engineering share price rose 470% after NLC India contract

17 Jun 2024 CW Team

Bondada Engineering's share price surged to a 52-week high of Rs 2,320.80 in early trade on June 13 after the company received a Letter of Award (LoA) from NLC India. At 09:22 am, the stock was trading at Rs 2,320.80 on the BSE, up Rs 110.50 or 5%.

NLC India awarded Bondada Engineering a contract for balance of system (BOS) work to establish a 600MW Grid Connected Solar Power project, including operations and maintenance (O&M) for three years after SCOD at Khavda, Gujarat. The contract is valued at Rs 9.39 billion (including GST) and is to be completed within 15 months from the LoA date.

In February, NLC India had granted Bondada Engineering a work order for BOS work for a 50MW solar power project, including O&M for three years, amounting to Rs 813 million (including GST).

The share price has risen 470% in the last six months.

(Source: Moneycontrol)

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