Shares of Bondada Engineering Ltd. ended the day 5% lower after touching a day’s high of Rs 629 on 14th October, despite the firm announcing that it has won another order from the Maharashtra State Power Generation Company (MAHAGENCO), marking its third order from the state-run discom in the last three days.

Bondada Engineering received a Letter of Award from MAHAGENCO for the design, engineering, manufacture, supply, erection, testing, and commissioning of a Crystalline Solar PV technology Grid interactive Solar PV power plant.

This project also includes associated power evacuation arrangements and five years of operation and maintenance at various locations across Maharashtra.

It is valued at Rs 390.25 crore and must be executed within a year after the land is allotted.

The company secured its fourth order last month.

On 18th September, the company won an order from Bharti Airtel worth Rs 10 crore. A few days later, on 27th September, it received a Rs 467 crore order from Bharti Airtel.

On 11th October, they announced two orders from MAHAGENCO: one for Rs 763.16 crore and the other for Rs 360.08 crore.

So far in 2024, Bondada Engineering’s shares have skyrocketed, giving returns of almost 600%. Today, the firm’s market capitalisation fell to Rs 6,288 crore.

At 3:30 PM, the shares of Bondada Engineering closed 5% lower at Rs 582.25 on BSE.

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