Upper circuit and only buyers: Stock achieves multibagger status in 3 months with order book 4x of sales and recognition for project timelines!

Remarkably, it has delivered impressive returns of approximately 146 per cent in the past three months

On Wednesday, the Indian stock market witnessed a buoyant performance, with Nifty and Sensex registering gains of 0.64 per cent and 0.68 per cent, respectively. With the exception of Nifty Media and FMCG, all sectors exhibited positive momentum, prominently led by Nifty Pharma and Nifty Bank.

In a notable development, the broader indices outshone their frontline counterparts, with Nifty Small-Cap soaring by nearly 1.5 per cent, while the Mid-Cap index saw a commendable rise of 0.85 per cent.

A stock that commanded attention on Dalal Street during this surge is Bondada Engineering Ltd. The stock experienced a lock at the upper circuit limit of 5 per cent, attracting only buyers. Remarkably, it has delivered impressive returns of approximately 146 per cent in the past three months, solidifying its status as a multibagger. Notably, the stock has surged by 70 per cent in the last month alone.

The spotlight on Bondada Engineering Ltd is further justified by the company's recent accolades. It has received appreciation letters from its client, Bharat Sanchar Nigam Limited (BSNL), commending the timely completion of projects. Specifically, the accolades pertain to the erection of 107 towers in the Kerala Circle before December 30, 2023, and the successful completion of a project in Warangal and Adilabad in the Telangana Circle.

As of December 31, 2023, the company boasts a robust closing order book, totaling Rs 1695 crore. For the financial year ending March 2023, the company reported sales of Rs 371 crore. Notably, the current order book is over four times the total sales recorded as of March 2023, underscoring its substantial growth. Significantly, the majority of the order book comprises EPC contracts, scheduled for delivery over the next 12 to 18 months. This emphasizes the company's strong foothold and promising outlook in the market.

Disclaimer: The article is for informational purposes only and not investment advice.