Technofab Engg jumps 13.3% in 2 days

Technofab Engineering jumped 7.01% to Rs 87.75 at 14:44 IST on BSE, with the stock extending Wednesday's 5.94% gains triggered by the company's announcement that it is participating in executing two new orders aggregating about Rs 320 crore.

Meanwhile, the S&P BSE Sensex was up 22.62 points or 0.11% at 20,752.

On BSE, so far 1,092 shares were traded in the counter as against average daily volume of 1,231shares in the past one quarter.

The stock was volatile. The stock rose as much as 7.19% at the day's high of Rs 87.90 so far during the day. The stock lost as much as 7.19% at the day's low of Rs 76.10 so far during the day. The stock had hit a record low of Rs 62.95 on 5 December 2013. The stock had hit a 52-week high of Rs 133.15 on 14 January 2013.

The stock had outperformed the market over the past one month till 8 January 2014, surging 15.49% compared with the Sensex's 1.27% fall. The scrip had also outperformed the market in past one quarter, jumping 13.42% as against the Sensex's 3.73% rise.

The small-cap company has equity capital of Rs 10.49 crore. Face value per share is Rs 10.

Shares of Technofab Engineering have rallied 13.37% in two trading sessions from a recent low of Rs 77.40 on 7 January 2014 after the company after market hours on 7 January 2014 said it is participating in executing two new orders aggregating about Rs 320 crore. The stock had surged 5.94% to settle at Rs 82 on Wednesday, 8 January 2014.

Technofab Engineering said that the company is participating in executing two new orders, both of which are for rural water supply schemes being undertaken by the Government of Rajasthan through its Public Health Engineering Department. The scope involves water treatment, water pumping stations, storage reservoirs/elevated storage and pumping & distribution network that will benefit over 285 villages.

Technofab Engineering's share of the two orders is about Rs 320 crore and is to be executed over 3 years followed by 10 years of operation and maintenance that will fetch additional revenues to the tune of Rs 43 crore, the company said.

Technofab Engineering's net profit fell 93.3% to Rs 0.48 crore on 23.8% decline in net sales to Rs 83.78 crore in Q2 September 2013 over Q2 September 2012.

Technofab Engineering is an engineering and construction company, serving the power, industrial and infrastructure sectors, by executing comprehensive balance of plant (BOP) and auxiliary systems on a complete turnkey EPC (engineering, procurement and construction) basis.

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