Bondada Engineering’s share price surged to a 52-week high of Rs 3,684.45 in early trading on August 26, following the announcement of a significant project win worth Rs 575.74 crore. By 09:25 AM, the stock was up by Rs 175.45, or 5.00 percent, on the Bombay Stock Exchange (BSE).
This power project is of 170.40 MW, awarded by Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy in connection to the Mukhyamantri Saur Krushi Vahini Yojana 2.0 scheme by PM-KUSUM Solar initiatives in Maharashtra. Scope of work will involve design, survey, supply, installation, testing, and commissioning of grid-connected distributed solar power plants. These plants are to be installed for solarizing agricultural feeders at substation levels under the jurisdiction of MSEDCL along with the associated 11 kV line and RTM systems.
Besides, Bondada Engineering has fixed September 2, 2024, as a record date for an effective stock split, resulting in subdivision of each Rs 10 face value equity share into five new shares having a face value of Rs 2. This move will eventually enhance the liquidity of the shares in the market.
This new project win and the upcoming stock split have been among the reasons why Bondada Engineering Inc.’s shares have pulled up well.
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Source: Moneycontrol
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