Multibagger Bondada Engineering share price hits 5% upper circuit on a Bharti Airtel order

Stock Market Today: Multibagger stock, Bondada Engineering share price was locked in a 5% upper circuit on Tuesday after having received a large order from Bharti Airtel Ltd. The Bondada Engineering share price after having risen 1610% in last one year has given Multibagger returns to the investors.

Bondada Engineering share price that opened at ₹2554.40 on the BSE on Tuesday, opened with gains of 4.8% over the previous day closing at ₹2436.80. The Bondada Engineering share price thereby scaled all time high of ₹2,558.60 on Tuesday, marking gains of 5%.

Bondada Engineering had recently won order worth Rs. 2,05,32,000/- (Rupees Two Crore Five Lakh Thirty Two Thousand (including GST), from Bharti Airtel Ltd.

Bondada Engineering in its filing on the exchanges said that it has received work orders from Bharti Airtel Ltd wherein Bondada Enginerring has to Supply of 6 Meters Height GI pole Weighing 60kg (Hot Dipped Galvanised) without Base, amounting to Rs. 2,05,32,000/- (including GST) to Tamil Nādu. The order has been awarded by a domestic entity.

Meanwhile Bondada Engineering also had intimated stock exchange that it has incorporated a Subsidiary namely, Bondada Managed Services Private Limited with a Authorized Capital of Rs. 100,00,000 divided into 10,00,000 shares of Rs. 10/- each. The subsidiary has been incorporated to provide Operation and Maintenance Services for all kind of Cell towers and Fiber Optic Systems and Cables.The New subsidiary is incorporated in India and registered with Registrar of Companies, Hyderabad, Telangana on June 6, 2024 and is yet to commence their business operations.

Bondada Engineering recently had reported its FY24 finacial performance. The reported net profit of ₹44.72 crore grew Multifoods from ₹16 8 crore in FY23. The revenue from operations for Bondada also had risen multifold from ₹371 crroe in FY23 to ₹800.72 crore in FY24.

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