Techno Electric & Engineering bags order worth Rs 1750 Cr, Stock rallies over 2%

During Monday’s deals, the shares of Techno Electric & Engineering Company Limited zoomed by 2.43%. The company’s current market capitalisation is Rs 9,006.80 crore.   

Recent development

The company has recently clinched significant orders amounting to Rs 1750 crore in the Transmission and Distribution segment as part of its routine business operations. The comprehensive details of the orders are as follows:

Transmission — Rs 709 crore

• Securing a contract for a 765kV AIS Substation Package (Neemrana-ll) in Rajasthan from Sterlite Power at Rs 199 crore.
• Winning another contract for a 765kV AIS Substation Package for the Establishment of 765/400 kV, 2×1500 MVA at Sikar, Rajasthan from PowerGrid at Rs 223 crore.
• Bagging a joint contract, including (i) 765/400 kV Substation Package for Dausa and (ii) 765 kV Extension Package for Beawar, Rajasthan from PowerGrid, totaling Rs 288 crore.

Distribution — Rs 1041 crore

• The company has also secured a substantial order of Rs 1041 Crores for the implementation of Advance Metering Infrastructure (AMI) in Kashmir on a DBFOOT (Design-Build-Finance-Own-Operate-Transfer) Basis from RECPDCL.

Positive Implications for the Company:

TECHNO’s recent Rs 1750 crore order will pump up their financial strength with a hefty order book and profit potential. This achievement highlights company’s ongoing success in the competitive Transmission and Distribution sectors, reinforcing its growth trajectory and robust standing in the market.

About company:

Techno Electric & Engineering Company Ltd (TEECL) specializes in offering comprehensive services in the power infrastructure industry, including Engineering, Procurement, and Construction (EPC), asset ownership, and operations and maintenance. 

Furthermore, the stock has witnessed significant buying activity as it has given multibagger returns of more than 124% in the just 6 months.   

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.