Shares of Bondada Engineering Ltd. surged by 5%, hitting an upper circuit at Rs 3,684.45 on 27th August, after the company announced it had been awarded a Rs 576 crore contract to execute solar power projects across various districts in Maharashtra under the PM-KUSUM scheme on Monday.

This marks the second consecutive day that the shares have hit a 5% upper circuit.

The company received Letters of Award from Lumina Clean Energy Private Ltd, Purelight Energy Private Ltd, and VVKR Photovoltaics Energy Private Ltd, which are special purpose vehicles formed by PPA owners, Paradigm IT Technologies Pvt Ltd, and Metalcraft Forming Industries Pvt Ltd.

The scope of work involves designing, surveying, supplying, installing, testing, and commissioning grid-connected distributed solar power plants. These plants are intended to solarize selected agricultural feeders at the sub-station level within the jurisdiction of Maharashtra State Electricity Distribution Company Ltd. (MSEDCL).

The project also involves installing an associated 11 kV line to connect the solar power plants with the relevant sub-stations, along with a Remote Monitoring System (RMS) for overseeing the solar power plants.

These projects are part of the Mukhyamantri Saur Krushi Vahini Yojana 2.0, under the PM-KUSUM initiative, and will have a total capacity of 170.40 MW on a DC basis.

This contract highlights Bondada Engineering’s expanding role in renewable energy, supporting India’s move toward sustainable energy solutions.

At 10:13 AM, the shares of Bondada Engineering were trading 5% higher at Rs 3,684.45 on BSE.

The future of investing is here!
Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!