Techno Electric & Engineering secures new orders for ₹4,063 crore; stock surges 5%

Techno Electric & Engineering has bagged new orders for ₹4,063 crore. The stock surged 5.22 per cent on the NSE as of 1.21 pm to trade at ₹1,020.

The stock has hit a 52-week high at ₹1,067.55 on the NSE.

According to the company’s stock exchange filing, it has received multiple contracts including, the establishment or execution of 765kV substation package, for solar energy zone in Bidar, from Power Grid Corporation of India for ₹241 crore; a contract from Adani Transmission Ltd for ₹120 crore for establishment or execution of 765kV Substation Package, at Halvad, Gujarat; Aparva Energy Pvt Ltd. for execution of 765/400 KV Substation, at Karera, MP, for ₹175 crore; from Millenium Challenge Account (MCA), Nepal, for ₹760 crore, an order for execution of 400kV Substation, at Lapsiphedi & New Hetauda and New Damauli, Nepal.

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Techno Electric has received two contracts from Indigrid worth ₹904 crore; Damodar Valley Corporation for execution of 12 x 33/11 KV EHouse GIS Substation with 33/11 KV cable work at DVC Comand Area of 120 km at ₹291 crore; and from REC Power Distribution Company for installation and operation of Smart Meters in Tripura, Ranchi and Indore on DBFOOT Basis, amounting ₹1,571 crore.

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