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Updated January 1st, 2024 at 15:14 IST

Techno Electric surges 3% after bagging an order of Rs 1,750 crore

The company secured orders for transmission and distribution.

Business Desk
The stock markets painted a varied picture, with Taiwan leading the pack, set to close the year with an impressive 26.7 per cent surge, marking its most robust performance since 2009.
TEECL surges 3% | Image:Taiwan
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The shares of Techno Electric and Engineering Company Ltd (TEECL) surged 2.72 per cent to hit an intraday high of Rs 810 per share after securing an order worth Rs 1,750.

The company, via an exchange filing, said “Techno Electric & Engineering Company Limited has been awarded with Orders worth Rs1,750 crore in the Transmission and Distribution segment in the Normal Course of Business.”

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The company secured an order for transmission of Rs 709 crore in Rajasthan for 765kV AIS substation package, valued at Rs 199 crore, earmarked for Neemrana-ll.

P P Gupta, MD of the company said, “…will ensure time bound completion to the fullest satisfaction of the customers. The above orders have reaffirmed our lead status in the power sector EPC space.”

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Additionally, Techno is set to undertake the establishment of a 765 kV AIS substation package in Sikar, Rajasthan, with a budget of Rs 223 crore in collaboration with PowerGrid.

The Kolkata-headquartered firm is an engineering, procurement, and construction (EPC) enterprise in the power sector with a focus on generation, transmission, distribution, and ventures like renewable energy and data centres.

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The company also bagged the order for the 765/400 kV substation package for Dausa, coupled with the 765 kV extension package for Beawar, Rajasthan, which entails an investment of Rs 288 crore.

Techno secured an Advance Metering Infrastructure (AMI) order in Kashmir on DBFOOT Basis from RECPDCL for Rs 1,041 crore.

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As of 3:00 pm, shares of TEECL were trading 2.11 per cent  higher at Rs 816.30 per share.

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Published January 1st, 2024 at 15:14 IST

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