Shares of Bondada Engineering Ltd surged 6% to hit an intraday high of Rs 585 on 24 January after the company announced signing an MoU under the UNNATI Scheme.
In its regulatory filing, the company said that they have signed a Memorandum of Understanding (MoU) for establishing a 100 megawatt (MW) Hybrid renewable energy plant in Assam under the UNNATI Scheme for a total investment of Rs 450 crore.
The MoU was signed between Dr Bondada Raghavendra Rao, the company’s Chairman and Managing Director and Ranoj Pegu, Assam’s Minister of Education, Welfare of Plain Tribe & Backward Classes, during the Assam 2.0 Summit 2025, held in Hyderabad.
The company, in its filing, added, “we are pleased to inform the stock exchange that our Chairman and Managing Director, Dr Bondada Raghavendra Rao, on behalf of Bondada group, has exchanged the MoU with Minister of Education, Welfare of Plain Tribe & Backward Classes, Assam, Ranoj Pegu, at the Advantage Assam 2.0 Summit 2025 organized in Hyderabad, for establishing a Hybrid Renewable Energy Plant in Assam to invest in Hybrid projects under UNNATI Scheme.”
The project will be managed by a wholly owned subsidiary of the company, Bondada Renewable Energy Ltd, which will integrate solar and wind power. This project will mark a significant step toward advancing renewable energy infrastructure in the region.
At 11:57 am, the shares of Bondada Engineering were trading 0.94% higher at Rs 554.75 on NSE.
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