Technofab Engg jumps after winning contracts

Technofab Engineering rose 6.55% to Rs 146.40 at 12:08 IST on BSE after the company said it won two contracts worth an aggregate Rs 262 crore.

The announcement was made during trading hours today, 9 December 2014.

Meanwhile, the BSE Sensex was down 82.98 points, or 0.30%, to 28,036.42.

On BSE, so far 3,536 shares were traded in the counter, compared with an average volume of 1,475 shares in the past one quarter.

The stock hit a high of Rs 149.30 and a low of Rs 140 so far during the day. The stock hit a 52-week high of Rs 167 on 4 July 2014. The stock hit a record low of Rs 59 on 21 February 2014.

The stock had underperformed the market over the past one month till 8 December 2014, falling 2.55% compared with 0.90% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.66% as against Sensex's 2.93% rise.

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

Technofab Engineering announced that letter of awards have been received for a waste water rehabilitation project worth Rs 54 crore in Kenya and for a rural electrification project worth Rs 208 crore in Bihar.

With this, the total order book has crossed Rs 1500 crore, the company said.

Technofab Engineering's net profit rose 204.2% to Rs 1.46 crore on 8.5% rise in net sales to Rs 90.87 crore in Q2 September 2014 over Q2 September 2013.

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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