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Hot Pursuit
01-Jan-24
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Techno Electric & Engg gains on bagging order worth Rs 1,750 cr
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Techno Electric & Engineering Company rose 1.78% to Rs 813.60 after the company has been awarded with orders worth Rs 1,750 crore in transmission and distribution segment.
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The transmission business bagged order worth Rs 709 crore. It includes 765kV AIS Substation Package (Neemrana-ll) in Rajasthan from Sterlite Power amounting Rs 199 crore, 765kV AIS Substation Package for Establishment of 765/400 kV, 2x1500 MVA at Sikar, Rajasthan from PowerGrid aggregating Rs 223 crore, 765/400 kV Substation Package for Dausa and 765 kV Extension Package for Beawar, Rajasthan from PowerGrid amounting Rs 288 crore.
The firm’s distribution business has received order worth Rs 1,041 crore from RECPDCL for advance metering infrastructure (AMI) in Kashmir on DBFOOT Basis.
Techno Electric & Engineering Company is a recognized company in the power sector. It provides engineering, procurement and construction services to the three segments of power sector including generation, transmission and distribution. The company is also engaged in generation of wind power through wind turbine generators in the states of Tamil Nadu & Karnataka.
The company’s consolidated net profit rose 25.45% YoY of Rs 73.78 crore in Q2 FY24. Revenue from operations surged 148.82% YoY to Rs 462.29 crore in Q2 FY24.
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