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Bondada Engineering Share Price Surged by 1423.2%, Know Why?

Bondada Engineering, a standout in integrated infrastructure, surged by 1423.2% since debuting on BSE SME platform in August 2023, attributing to strong financials and the incorporation of Bondada Green Engineering Pvt Ltd.

On Wednesday's trading, Bondada Engineering's share price surged by nearly 5%, hitting a 52-week high post announcement of its subsidiary's incorporation. Its consistent revenue growth and robust order backlog bolstered investor sentiment.

Technical indicators suggest Bondada Engineering is in a buy zone, projecting potential upward trajectory to reach around ₹1,200. It secured significant orders including a ₹433 crore contract from Singareni Collieries Company Limited.

Bondada Engineering IPO saw overwhelming demand, oversubscribed by 112.28 times, with strong interest from retail investors and non-institutional buyers. IPO price at ₹75 per share aimed for general corporate purposes & long-term working capital requirements.

Following its listing, Bondada Engineering shares debuted with a 90% premium, closing at ₹149.62 per share. With a closing price of ₹1,142.40 per share on Wednesday's trading session, it solidifies its position as a multibagger stock in the infrastructure sector.

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