 "Technofab Engineering surges on orders win of Rs 220 crore from Power Grid")
Technofab Engineering surged 16% to Rs 214 on the National Stock Exchange (NSE) in intra-day trade after the company announced the receipt of two new orders from Power Grid Corporation of India amounting to Rs 220 crore in the State of Tripura.
“Both orders are in the industrial and rural electrification sector and works related to 33/11 KV sub stations & associated lines. The orders have a timeline of 33 month for completion,” Technofab Engineering said in a statement.
The company has enough order book position and L1 pipeline, which give us good visibility and confidence, said Arjun Gupta, whole-time director, Technofab Engineering.
At 10:10 am; the stock was up 8% at Rs 199 as compared to a marginal 0.02% decline in the Nifty 50 index. A combined 97,976 shares changed hands on the counter on the BSE and NSE so far.
“Both orders are in the industrial and rural electrification sector and works related to 33/11 KV sub stations & associated lines. The orders have a timeline of 33 month for completion,” Technofab Engineering said in a statement.
The company has enough order book position and L1 pipeline, which give us good visibility and confidence, said Arjun Gupta, whole-time director, Technofab Engineering.
At 10:10 am; the stock was up 8% at Rs 199 as compared to a marginal 0.02% decline in the Nifty 50 index. A combined 97,976 shares changed hands on the counter on the BSE and NSE so far.
