Bondada Engineering Shares Surge After Rs 945 Crore Order Win
The order by Bondada Engineering could also include Operations & Maintenance services for a period of three years.
The shares of Bondada Engineering Ltd. rose nearly 6% after it won Rs 945 crore order from NLC India Renewables. The EPC order involves Balance of System works for setting up 810 MW Solar Power Projects at RVUNL Solar Park, Bikaner, Rajasthan under Engineering, Procurement and Construction.
The order could also include Operations & Maintenance services for a period of three years, the company said in an exchange filing on Monday. "With this order, the Company’s Total EPC orders in hand are now ~ 3 GW and the Company thereby strengthening its medium-term growth pipeline," the company added.
The company will design, engineer, develop site, manufacture, inspect supplier's work, supply, insurance, transport, storage, erection, installation, testing and commissioning of total capacity of 810 MW Solar Power Project along with evacuation system up to delivery point. The time period for the order is set at 15 months from receipt of letter of award.
The company had secured a Letter of Intent (LOI) from the Adani Group for the supply and installation of Balance of System (BOS) components for a 650 MW solar power project at the Khavda Renewable Energy Park in Gujarat.
The Rs 1,050 crore contract includes comprehensive responsibilities ranging from design, engineering, procurement, and delivery to on-site installation, testing, and commissioning, the company said in an exchange filing on Thursday, Oct. 23.
The contract and scope of work also includes quality assurance, packing, and delivery of materials at site. The scope further covers onsite services, including receipt, unloading, storage, handling, installation, testing, and commissioning of free-issue materials, along with associated civil, mechanical, electrical, and structural works required for successful project commissioning.
Bondada Engineering Shares Today
The scrip rose as much as 5.76% to Rs 378 apiece on Monday, the highest level since Dec. 15. It pared losses to trade 5.2% higher at Rs 376 apiece, as of 12:14 p.m. This compares to a 0.55% advance in the BSE Sensex Index.
It has fallen 40.34% in the last 12 months. Total traded volume so far in the day stood at 0.94 times its 30-day average. The relative strength index was at 61.94.
