Telecom infrastructure firm Bondada Engineering Ltd (BEL) acquired an order value Rs 2.05 crore from Bharti Airtel, the second largest telecom firm in India, in response to a inventory market disclosure.
Bondada Engineering Order Particulars
Based on the data accessible on the inventory market trade BSE, Bondada Engineering has acquired a piece order value Rs 2.05 crore from the nation’s second telecom firm Bharati Airtel Restricted. This order is for the availability of six-meter peak GI pole weighing 60 kg (scorching dipped galvanised) and not using a base to Tamil Nadu. The work order is value Rs 2,05,32,000 together with GST.
Earlier, on June 12, the engineering, procurement, and development (EPC) companies agency BEL acquired a letter of award (LoA) for a big order from NCL India. This work order is for the steadiness of system work for organising the 600 MW Grid Related Photo voltaic Energy Undertaking at Khakra, Gujarat.
After getting an order from NCL, the corporate’s shares surged to a 52-week excessive of Rs 2,320.80 in early commerce on June 13.
Bondada Engineering enterprise profile
BEL is a various participant within the infrastructure sector that focuses on undertaking execution excellence. The corporate is headquartered in Hyderabad and specialises in core companies to operations and upkeep companies within the infrastructure house.
BEL Q4FY24 earnings
Bondada Engineering’s revenue after tax (PAT) greater than doubled to Rs 31.44 crore within the fourth quarter of fiscal 12 months 2023-24 (Q4FY24), up from Rs 14.87 crore within the earlier 12 months. Concurrently, earnings from operations elevated by 70.8 per cent 12 months on 12 months, reaching Rs 505 crore.
BEL recorded a PAT of Rs 46.31 crore for the fiscal 12 months 2023-24 (FY24), up from Rs 17.13 crore in FY23. Moreover, income from operations greater than quadrupled, rising to Rs 801 crore from Rs 371 crore within the earlier fiscal 12 months.
Professional’s view on Bondada Engineering
Sugandha Sachdeva, founding father of SS WealthStreet says Bondada Engineering has proven commendable efficiency in latest quarters, establishing itself as a major participant within the infrastructure sector. The corporate’s sturdy fundamentals, sturdy undertaking pipeline, and strategic partnerships place it properly for future progress.
“The shares of Bondada Engineering have skilled a exceptional enhance, supported by optimistic market sentiment and sturdy fundamentals. The inventory has surged by greater than 500 p.c year-to-date and continues to point out promise. The corporate has reported sturdy monetary outcomes for FY24 and seems well-positioned for additional progress, pushed by the federal government’s bold infrastructure improvement plans, technological developments, and a powerful order ebook. A wholesome order ebook with a number of high-value initiatives ensures income visibility within the medium time period. The corporate’s capacity to safe and execute massive contracts shall be essential to its continued success,” she added.
Based on Sachdeva, as per the worth sample, the inventory witnessed some consolidation final month in a slender band however has just lately skilled a recent breakout above the Rs. 2000 mark, scaling to new highs of Rs. 2436.80. Whereas the inventory seems overbought, a brand new base is being witnessed on the Rs. 2000 stage on each day charts, offering a cushion for the inventory.
Funding Technique
Purchase on Dips: Buyers can take into account shopping for the inventory on dips, with the Rs. 2000 mark appearing as a powerful help stage.
Goal Ranges: The inventory is poised to succeed in increased targets of round Rs. 2850 after which Rs. 3050 from a medium-term perspective.
Threat Administration: Buyers ought to nonetheless train some warning, as any breach of the Rs. 2000 mark on a closing foundation might invite promoting stress, with the subsequent help seen on the Rs. 1620 stage.
Medium to Lengthy-Time period Perspective: Buyers with a medium to long-term perspective could discover Bondada Engineering a promising addition to their portfolio, capitalizing on the anticipated progress within the infrastructure sector. The corporate’s sturdy efficiency, strategic initiatives, and favorable market circumstances present a strong basis for sustained progress.
Bondada Engineering inventory efficiency
The inventory has given good returns within the final one 12 months. The inventory gained over 1,500 per cent in a 12 months. The inventory has proven an increase of 500 per cent within the final six months. The return in three months was 225 per cent. The inventory has given returns of about 30 per cent within the final month. The 52-week excessive of the inventory on BSE is 2,436.80 and the low is 142.50. The market cap of the corporate is greater than Rs 7,49,845 crore.
Shares of Bondada Engineering closed at Rs 2,436.8 every, up 5 per cent on Friday, June 14 on BSE.
The views/options/advices expressed right here on this article are solely by brokerage agency. Zee Enterprise suggests its readers seek the advice of their funding advisers earlier than making any monetary choice.
