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Last Updated : Nov 29, 2017 09:18 AM IST | Source: Moneycontrol.com

Technofab Engineering gains 20% on order win worth Rs 281cr

The company has received new order in the domestic water sector valued at Rs 281 crore.

 
 
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Shares of Technofab Engineering has locked at 20 percent upper circuit on Wednesday on the back of order won worth Rs 281 crore.

There were pending buy orders of 17,750 shares, with no sellers available.

The company has received new order in the domestic water sector valued at Rs 281 crore

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The project is funded by Asian Development Bank.

This order gives a further impetus to the company’s standing in the water sector, soon after securing orders in Bhutan and Uganda, and recently completed projects in Tanzania and Zimbabwe, company said in press release.

With this the order backlog of the company stands at approximately Rs 2000 crore of which the water sector now contributes close to 45 percent.

At 09:17 hrs Technofab Engineering was quoting at Rs 289.20, up Rs 48.20, or 20 percent.

It has touched a 52-week high of Rs 289.20.

Posted by Rakesh Patil

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First Published on Nov 29, 2017 09:16 am
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