Shares of Bondada Engineering saw a sharp surge after the company announced an order win worth over Rs 1,300 crore from NTPC. The stock is trading at Rs 337, accounting for gains of almost 2%, notably reaching intraday high of Rs 346.9%.
This comes on the back of Bondada receiving an order from NTPC Renewable Energy for an EPC package to develop a 250 MW solar project with a 50 MW/200 MWh battery energy storage system at Sitapur, Uttar Pradesh, the company said in an exchange filing on Tuesday.
The order is valued at Rs. 1,338.03 crore and is to be executed within 18 months from the receipt of the notification of award.
With this win, Bondada's solar EPC order book has expanded to approximately 5.5 GWp, while its BESS order book has grown to around 1.1 GWh, the company said. It added that the order is a domestic contract, does not involve any related party transaction, and that the promoter group has no interest in NTPC Renewable Energy.
The company said the strengthened order book enhances revenue visibility and provides execution momentum, and that the project is expected to make a meaningful contribution to future revenues and profitability.
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