Techno Forge touches the roof on inking MOA with Central, State government of Gujarat

26 Sep 2011 Evaluate

Techno Forge is currently locked at it upper circuit limit of Rs. 19.65, up by 0.90 points or 4.80% from its previous closing of Rs. 18.75 on the BSE.

The scrip opened at Rs. 19.65 and has touched a high and low of Rs. 19.65 and Rs. 19.65 respectively. So far 100 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 28.00 on 19-Nov-2010 and a 52 week low of Rs. 9.29 on 13-May-2011.

Last one week high and low of the scrip stood at Rs. 20.00 and Rs. 18.25 respectively. The current market cap of the company is Rs. 7.70 crore.

The promoters holding in the company stood at 37.90% while Non-Institutions held 62.10%. 

Techno Forge has been awarded and entered a memorandum of agreement (MOA) between Central Government and State Government of Gujarat for up gradation and modernization of Industrial Training Institute (ITI) of Jagadia, Bharuch district, Gujarat, through Public Private Partnership. This is a major step taken by the company in corporate social responsibility (CSR). Further, this is to uplift the level of education, social and economic uplift in the remote areas of the district.

Recently, the company had bagged order worth Rs 5.50 crore from L&T for the manufacture of critical component in power generation field.

Techno Forge makes forged seamless rings upto 1500 mm outer dia. With minimum thickness of 45mm, it also makes none standard forgings such as couplers, forged fittings, forged components for valve bodies and bonnets, gear blanks, pinions, roller shafts, hollow bars and manifolds.

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