Techno Electric & Engineering Company said it signed a Memorandum of Understanding (MoU) with Government of Tamil Nadu on 16 February 2020, for the proposed development of a 25 MW data center along with ITeS facility in Chennai.
"Techno proposes to invest Rs 650 crore in the proposed project in the next 3 years," the company said in a filing issuing during market hours today, 17 February 2020.
The scrip was down 1.56% at Rs 279.95 on the BSE. It traded in the range of 275.30 and 284.05 so far during the day.
In the past three months, the stock has 31.05% while the benchmark Sensex has added 18.18% during the same period.
Techno Electric & Engineering Company is an engineering, procurement, and construction (EPC) player and green energy generator in the power sector.
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