Triveni Engineering soars 6%, hits new high on healthy business outlook

The company's grain-based distillery of 60 KLPD is expected to commence its operations in Q4FY22, which is likely to strengthen its operational profile and improve revenue diversification.

Shares of Triveni Engineering & Industries (TEIL) hit a new high of Rs 269.35, on soaring 6 per cent on the BSE in Wednesday’s intra-day trade on expectations of a healthy growth in operating profits as well as strengthening of debt protection metrics in FY2022 and FY2023.

The stock surpassed its previous high of Rs 267.25 hit on Monday, January 17, 2022. At 10:25 am; the stock was up 5.5 per cent at Rs 267.50, as compared to 0.70 per cent decline in the S&P BSE Sensex. In the past one month, the stock had gained 21 per cent,