Heavy buying and Rs 1,695 crore order book: Back-to-back upper circuit in this multibagger stock; bags new order worth Rs 433.91 crore!
Shares of the company gained more than 350 per cent in the last six months.
Shares of Bondada Engineering Limited were locked in the upper circuit on Wednesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock has been locked in the upper circuit for the last few days.
Yesterday, Bondada Engineering landed a lucrative contract, A Letter of Intent from Singareni Collieries secures them a domestic project to design, build, and maintain a 67.5 MW solar power plant in India. The 10-year commitment includes operation and maintenance, with a total value of Rs. 433.91 crore. This project strengthens Bondada's position in the renewable energy sector.
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In H1FY24, the company posted a 152.82 per cent increase in its consolidated revenue at Rs 295.72 crore compared to Rs 116.97 crore from the previous year’s corresponding half-year. The operating profit of the company stood at Rs 21.81 crore, while the PAT of the company stood at Rs 14.87 crore, from Rs 4.35 crore last year same half-year. The company has an order book of Rs 1,695 crore as of December 31, 2023.
Bondada Engineering Limited provides engineering, procurement, and construction (EPC) services and operations and maintenance (O&M) services to companies operating in the telecom and solar energy industry. The company boasts an ongoing order book exceeding Rs 1,600 crore to be completed within the next two years. Additionally, they've secured (L1 bidder) contracts worth over Rs 1,500 crore slated for future execution. The shares of Bondada Engineering Limited have also delivered multibagger returns to its shareholders.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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