Technofab Engineering touches roof on bagging order worth Rs 281 crore

29 Nov 2017

Technofab Engineering is locked at upper circuit at Rs. 289.20, up by 48.20 points or 20.00% from its previous closing of Rs. 241.00 on the BSE.

The scrip opened at Rs. 279.00 and has touched a high and low of Rs. 289.20 and Rs. 279.00 respectively. So far 3,965 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 289.20 on 29-Nov-2017 and a 52 week low of Rs. 175.00 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 289.20 and Rs. 237.00 respectively. The current market cap of the company is Rs. 303.37 crore.

The promoters holding in the company stood at 48.22%, while Institutions and Non-Institutions held 0.16% and 51.62% respectively.

Technofab Engineering has bagged a new order in the domestic water sector valued at Rs 281 crore. The project is funded by Asian Development Bank. This order gives a further impetus to the company's standing in the water sector, coming as it does, soon after securing orders in Bhutan and Uganda, and recently completed projects in Tanzania and Zimbabwe. It may be recalled that the company sees this sector as a major thrust area. With this, the order backlog stands at around Rs 2000 crore of which the water sector now contributes close to 45%.

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

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