Buy Techno Electric and Engineering of Rs 385: ICICI Direct

ICICI Direct's research report on Techno Electric and Engineering

Techno Electric Engineering Company (TEEC) is one of the leading power-infrastructure companies engaged in three primary business segments; EPC (construction), renewable power generation (wind power) and public-private partnership (PPP) projects in transmission & distribution (T&D). EPC Business: Contributed ~92% to FY22 revenue, generated excellent RoCE of 50-75% over the past five years. PPP projects business: It is present in BOOT/BOOM transmission projects in PPP mode. Wind Power: TEEC owns ~130 MW of wind power generation capacity.

Outlook

We continue to remain positive and retain our BUY rating on the stock. We value TEEC at Rs 385 i.e. 13x PE on FY24E.

More Info

At 18:30 hrs Techno Electric & Engineering Company Ltd was quoting at Rs 232.00, down Rs 48.80, or 17.38 percent.

It has touched an intraday high of Rs 289.00 and an intraday low of Rs 282.45.

It was trading with volumes of 0 shares, compared to its thirty day average of 12,366 shares, a decrease of -100.00 percent.

In the previous trading session, the share closed down 1.27 percent or Rs 3.60 at Rs 280.80.

The share touched its 52-week high Rs 319.90 and 52-week low Rs 221.00 on 11 July, 2022 and 24 February, 2022, respectively.

Currently, it is trading 27.48 percent below its 52-week high and 4.98 percent above its 52-week low.

Market capitalisation stands at Rs 2,552.00 crore.

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Techno Electric & Engineering - 230822 - icici