Technofab Engineering soars on bagging two new orders worth Rs 227 crore

08 Sep 2016

Technofab Engineering is currently trading at Rs. 217.80, up by 29.80 points or 15.85% from its previous closing of Rs. 188.00 on the BSE.

The scrip opened at Rs. 204.70 and has touched a high and low of Rs. 225.30 and Rs. 203.60 respectively. So far 17,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 247.70 on 29-Jun-2016 and a 52 week low of Rs. 130.10 on 14-Sep-2015.

Last one week high and low of the scrip stood at Rs. 225.30 and Rs. 186.15 respectively. The current market cap of the company is Rs. 228.47 crore.

The promoters holding in the company stood at 48.22%, while Institutions and Non-Institutions held 0.14% and 51.64% respectively.

Technofab Engineering has bagged two new orders from Power Grid Corporation of India (PGCIL), amounting to Rs 227 crore. Both orders are in the Electrical Sector and involve Sub Stations and laying of lines. The orders have to be completed within 32 months. 

The company is already undertaking 220 KV Sub Stations in Jharkhand and UP and with these new orders the company’s business in the Electrical Sub Stations sector is substantially enhanced. The company’s order backlog now stands at around Rs 1400 crore.

Technofab Engineering provides engineering procurement and construction services. It serves power, oil and gas and other industrial infrastructure undertakings.

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