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Techno Electric & Engineering has bagged new contracts worth ?4,063 crore, driving a significant stock price increase on the National Stock Exchange (NSE). As of 1.21 pm, the companys stock surged 5.22% to trade at ?1,020. Earlier, the stock hit a 52-week high of ?1,067.55 on the NSE.
According to the companys stock exchange filing, Techno Electric & Engineering has secured multiple contracts across various sectors. Notable contracts include:
A 765kV substation package for a solar energy zone in Bidar from Power Grid Corporation of India, valued at ?241 crore.
A contract from Adani Transmission Ltd for ?120 crore to establish or execute a 765kV substation package in Halvad, Gujarat.
A ?175-crore contract from Aparva Energy Pvt Ltd. for the execution of a 765/400 kV substation in Karera, Madhya Pradesh.
A major contract from Millenium Challenge Account (MCA), Nepal, worth ?760 crore, for the execution of 400kV substations at Lapsiphedi, New Hetauda, and New Damauli in Nepal.
Techno Electric & Engineering also received two significant contracts from Indigrid totaling ?904 crore, a contract from Damodar Valley Corporation for ?291 crore to execute a 12 x 33/11 KV EHouse GIS substation with 33/11 KV cable work across 120 km in DVC Command Area, and a contract from REC Power Distribution Company for ?1,571 crore to install and operate smart meters in Tripura, Ranchi, and Indore on a DBFOOT basis.
The recent wins have positively impacted the companys stock performance, indicating a strong outlook for future growth and further reinforcing Techno Electric & Engineerings position in the industry. |
