Upper Circuit Alert: Small-cap multibagger company bags Rs 32.7 crore engineering order!
Shares hit the upper circuit for the second consecutive day on November 17, 2023.
In a remarkable turn of events, Bondada Engineering Limited has once again set the stock market abuzz as its shares hit the upper circuit for the second consecutive day on November 17, 2023. The company's soaring stock performance follows the announcement of a substantial order from M/s. DINESH ENGINEERS LIMITED, solidifying Bondada's position as a key player in the engineering sector.
The order, valued at an impressive Rs. 32,72,62,026 involves the supply of 40mtr Towers along with all the requisite accessories. The contract stipulates the delivery of 300 units, with 200 earmarked for Ranchi, Jharkhand, and 100 for Raipur, Chhattisgarh. This domestic deal marks a significant milestone for Bondada Engineering, showcasing its prowess in providing comprehensive Engineering, Procurement, and Construction (EPC) services.
Established in 2012, Bondada Engineering has carved a niche for itself in the telecom and solar energy industries, offering EPC services and Operations and Maintenance (O&M) services. Following are the business segments of the company in detail:
Source- Company corporate presentation
The company's manufacturing facility, located in Keesara Mandal, Medchal, Telangana, boasts an impressive installation capacity of 12 thousand MTPA for tower fabrication.
Adding to the excitement, Bondada Engineering's stock has delivered multibagger returns of 195 per cent since its listing on August 30, 2023. The recent surge, locking in the upper circuit for two consecutive days, underscores the market's confidence in the company's strategic initiatives and operational excellence.
What adds to the intrigue is the absence of any influence from the promoter/promoter group/group companies in the entity that awarded the order. This underscores the company's commitment to transparency and fair business practices. Investor should keep this stock in radar.
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Disclaimer: The article is for informational purposes only and not investment advice.
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