Shares of Bondada Engineering surged 5 percent in morning trade on September 27 after the company announced bagging an order worth Rs 468 crore from KPI Green.
Around noon, the stock was trading at Rs 620 on the NSE. The news of the order win also boosted trading volumes in the counter as two lakh shares already changed hands so far, higher than the one month daily traded average of one lakh shares.
The order is for the for supply of material and installation of solar power generation plant 130 MWp/100MWac. The order is slated to be executed over the span of the next 12 months.
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Last month, the company secured a Rs 575.74 crore contract from Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy for a 170.40 MW solar power project. This initiative is part of the Mukhyamantri Saur Krushi Vahini Yojana 2.0 under the PM-KUSUM Solar projects, which will be implemented across multiple districts in Maharashtra.
The project encompasses the design, survey, supply, installation, testing, and commissioning of grid-connected distributed solar power plants.
Aside from today's upmove, shares of Bondada Engineering have remained under pressure for the past month, falling over 15 percent in the period.
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