1:5 Stock Split: September 2 Record Date; Share To Become More Affordable, Participate?

A multifaceted participant in the infrastructure market is Bondada Engineering. With its main office located in Hyderabad, the firm has established itself all throughout India. The organisation offers end-to-end solutions to the infrastructure industry. On Tuesday, the shares of Bondada Engineering closed at 5% upper circuit level at Rs 3684.45 apiece which was also its all-time high level after the company declared record date for 1:5 stock split. The market cap of the company reached Rs 7,959.17 Cr.

Bondada Engineering Stock Split

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations"), this is to inform you that the Company has fixed Monday, September 2, 2024, as the "Record Date" for determining entitlement of Equity Shareholders for the purpose of subdivision/ split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid up, will be sub-divided into 5 (Five) equity shares having the face value of Rs. 2/- (Rupees Two only) each, fully paid up, ranking pari-passu in all respects," said the company in a stock exchange filing.

Bondada Engineering Latest News

Recently on 26th August, Bondada Engineering Limited received order deals from M/s. Lumina Clean Energy Private Limited, M/s. Purelight Energy Private Limited and M/s. VVKR Photovoltaics Energy Private Limited for the purpose of PM - KUSUM Solar projects across various districts in the state of Maharashtra under Mukhyamantri Saur Krushi Vahini Yojana 2.0. The total contract value - Rs. 5,75,74,73,650/- and the nature of the order is to design, survey, supply, installation, testing, commissioning of grid-connected distributed solar power plants for solarization of selected agri feeders at the sub-station (SS) level in MSEDCL jurisdiction, its associated 11 kV line to connect the plant with concerned SS and Remote Monitoring System (RMS) of solar power plants under Mukhyamantri Saur Krushi Vahini Yojana 2.0 of PM-KUSUM Solar projects across various districts in the state of Maharashtra.

Bondada Engineering Share Price Target

"Bondada Engineering Limited's current price momentum seems lucrative for trading and investing. Notably, the company has delivered a 27.55% ROE, and its debt has recorded a decrease. However, the stock's current PE ratio of 161.41 is higher than the average sectoral PE of 26.35, suggesting overvaluation. Those interested in capitalizing on the company's growth potential and profitability can consider entering the buying range of Rs. 3200-3350, as the stock is currently overbought. However, it could be a lucrative bet for investing if market participants limit their exposure. According to analysis, buying opportunities could emerge within 1-2 weeks. In such a situation, I recommend setting a price target between Rs. 4300 and Rs. 6000. Traders and investors may hold this stock for 4-12 months while closely adhering to a stop loss of Rs. 2400," commented V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

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