Techno Electric surges after good Q1 earnings

Techno Electric & Engineering Company jumped 6.07% to Rs 371.15 at 14:28 IST on BSE after consolidated net profit rose 43.8% to Rs 69.01 crore on 52.2% increase in net sales to Rs 412.27 crore in Q1 June 2017 over Q1 June 2016.

The result was announced on Saturday, 12 August 2017.

Meanwhile, the S&P BSE Sensex was up 281.56 points, or 0.9% at 31,495.15. The S&P BSE Mid-Cap index was up 348.82 points, or 2.37% at 15,075.09.

On the BSE, 6,255 shares were traded on the counter so far as against the average daily volumes of 8,385 shares in the past one quarter. The stock had hit a high of Rs 381.60 and a low of Rs 365 so far during the day. The stock had hit a record high of Rs on 438.95 on 8 June 2017 and a 52-week low of Rs 261.60 on 9 November 2016.

The stock had underperformed the market over the past one month till 11 Aug 2017, declining 7.6% compared with the Sensex's 1.68% fall. The scrip had also underperformed the market over the past one quarter declining 13.62% as against the Sensex's 3.18% rise. The scrip had also underperformed the market over the past one year advancing 6.06% as against the Sensex's 12.04% rise.

The mid-cap company has equity capital of Rs 22.54 crore. Face value per share is Rs 2.

Techno Electric & Engineering Company is a provider of engineering, procurement and construction (EPC) services to core sector industries in India.

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