Techno Electric surges on partnering with Indigrid
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Techno Electric & Engineering Company is currently trading at Rs. 1720.00, up by 73.05 points or 4.44% from its previous closing of Rs. 1646.95 on the BSE.
The scrip opened at Rs. 1669.90 and has touched a high and low of Rs. 1729.25 and Rs. 1669.90 respectively. So far 5366 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 1765.00 on 02-Aug-2024 and a 52 week low of Rs. 467.35 on 21-Aug-2023.
Last one week high and low of the scrip stood at Rs. 1729.25 and Rs. 1550.00 respectively. The current market cap of the company is Rs. 20003.53 crore.
The promoters holding in the company stood at 61.51%, while Institutions and Non-Institutions held 27.17% and 11.32% respectively.
Techno Electric & Engineering Company has partnered with Indigrid to collaboratively undertake development of two of the indigrid’s Greenfield Interstate Transmission System (ISTS) projects and signed the Securities Subscription Cum Shareholders Agreement (SSSHA).
Under this partnership, Techno Electric will co-develop and invest in indigrid’s two ISTS projects i.e. Ishanagar Power Transmission (IPTL) and Dhule Power Transmission (DPTL). The company will invest minority capital and will also be responsible for the complete execution of the projects on a Lump Sum Turnkey (LSTK) basis.
Techno Electric & Engineering Company (TEECL) is one of India’s most important power-infrastructure company. TEECL was established with a mission to provide comprehensive Engineering, Procurement and Construction (EPC) services to core sector industries in India.
