Bondada Engineering shares surged 9.99% to lock at the upper circuit limit of RS. 425.05 on the BSE, up by 38.60 points from its previous close of RS. 386.45.

The stock opened at RS. 391.60 and recorded a high and low of RS. 425.05 and RS. 385.20, respectively. A total of 7,94,800 shares have changed hands so far.

Classified under BSE group 'M' with a face value of RS. 2, the stock had touched a 52-week high of RS. 753.98 on August 28, 2024, and a 52-week low of RS. 326.00 on May 29, 2024. Over the past week, the scrip has ranged between RS. 425.05 and RS. 380.50. The current market capitalization stands at RS. 4676.72 crore.

Promoters hold 63.34% of the company's equity, while institutional and non-institutional investors hold 1.28% and 35.38%, respectively.

The stock rallied after Bondada Engineering received a significant government order from the Energy Department of the Government of Andhra Pradesh. The order pertains to the allocation of 2000 MW AC / 2600 MWp DC solar power capacity across Ananthapuramu and Sri Sathya Sai districts.

Valued at RS. 9,000 crore, this project will raise the company’s order book to approximately RS. 14,000 crore. Additionally, Bondada Engineering anticipates an annual revenue addition of RS. 1160 crore from Independent Power Producer (IPP) operations starting FY 2029. The project is to be completed within 24 months under the Andhra Pradesh Integrated Clean Energy Policy - 2024.

Bondada Engineering provides engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) services across India, primarily in the telecom and solar energy sectors.