Technofab Engineering surges on bagging two new orders worth Rs 220 crore

08 Feb 2017

Technofab Engineering is currently trading at Rs. 203.30, up by 19.85 points or 10.82% from its previous closing of Rs. 183.45 on the BSE.

The scrip opened at Rs. 195.25 and has touched a high and low of Rs. 206.95 and Rs. 195.25 respectively. So far 6,791 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. 139.00 on 15-Mar-2016.

Last one week high and low of the scrip stood at Rs. 206.95 and Rs. 182.15 respectively. The current market cap of the company is Rs. 215.05 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 220 crore in the state of Tripura. Both orders are in the Industrial and Rural Electrification Sector and works related to 33/11 KV Sub Stations & associated lines. The orders have a timeline of 33 month for completion.

Last year in September, the company had bagged two new orders from PGCIL, amounting to Rs 227 crore. Both orders were in the Electrical Sector and involve Sub Stations and laying of lines. The orders had to be completed within 32 months.

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

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