Bondada Engineering up 3% on winning Rs 1,089-cr order from Bihar Renewable

The work order is for the design, supply, installation of remote monitoring systems of smart solar street light systems on the identified existing electric pole

Bondada Engineering shares rose 3.3 per cent in Thursday's trade and logged an intraday high at Rs 608.8 per share. The stock was in demand after the company secured a work order from the Bihar Renewable Energy Development Agency.

 

Around 9:34 AM, Bondada Engineering share price was up 1.15 per cent at Rs 595.7 per share. In comparison, the BSE Sensex was up 0.27 per cent at 81,176.79. The market capitalisation of the company stood at Rs 6,459.02 crore. The 52-week high of the stock stood at Rs 753.98 per share and 52-week low of the stock stood at Rs 74.01 per share.

 

 

"We wish to inform the stock exchange that the Company has received a work Order from M/s. Bihar Renewable Energy Development Agency," the filing read. 

 

It further said that the work order is for the design, supply, installation, testing, and commissioning of remote monitoring systems of smart solar street light systems on the identified existing electric pole under Mukhyamantri Gramin Solar Street Light Yojana in Bihar State on EPC basis. 

 

This also includes a comprehensive maintenance contract for 5 years and is worth Rs 1,089 crore. The project has to be completed within 18 months from the execution of the agreement. 

 

Bondada Engineering is a company based in India, primarily known for its involvement in engineering, construction, and infrastructure-related services. It is known for providing solutions in various sectors, including civil engineering, electrical, mechanical, and other related fields. 

 

It is involved in executing large-scale projects, delivering high-quality engineering services, and working across diverse sectors like industrial, residential, and commercial construction.

 

The company is headquartered in Hyderabad and has made its presence felt across India. Bondada's specialisation ranges from core services to operations and maintenance services in the infrastructure space. The company designs and delivers infrastructural solutions for customers by leveraging its domain and business expertise.

 

Additionally, Bondada Engineering extends operation and maintanence (O&M) services to telecom and tower operating companies. These services include preventive and corrective maintenance of passive infrastructure and equipment, backup power systems, manning services including supply of riggers, surveillance, and maintenance of optical fibre cable routes.

 

In the past one year, Bondada Engineering shares have gained 620 per cent against Sensex's rise of 17 per cent.