Techno Electric & Engineering stock rises 10% on Rs 4,000-crore order win

The shares have gained a massive 175 percent in the last year.

Shares of Techno Electric & Engineering Company soared 10 percent to Rs 1,067 in the afternoon on April 29 after the company said it received orders worth Rs 4,000 crore.

It got orders from Power Grid Corporation of India, Adani Transmission, Millenium Challenge Account (MCA), Nepal, IndiGrid Trust, Damodar Valley Corporation and  REC Power Distribution Company, the engineering firm told exchanges. These works involve engineering, procurement and construction.

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In early January,  the company announced that it secured new orders worth Rs 1,750 crore for transmission and advance metering infrastructure.

At 2:55 pm, the shares were trading at Rs 1,021, up 5.4 percent from the previous close on the NSE, paring initial gains post the order win. The shares have gained a massive 175 percent in the last year.

With a market capitalisation of over Rs 10,000 crore, the company is one of India's prominent power-infrastructure companies. It specialises in engineering, procurement and construction (EPC), asset ownership and operations and maintenance services in the three industry segments of generation, transmission and distribution.

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