Rs 7,000 crore order book: This Small-cap company partnered with Indigrid to develop two greenfield Interstate Transmission System (ISTS) projects
The stock gave multibagger returns of over 245 per cent in just 1 year whereas BSE Sensex Index is up by 22 per cent.
Today, shares of Techno Electric & Engineering Company Limited gained 5 per cent to Rs 1,647 and locked in the upper circuit.
The company announced that it 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 Limited (IPTL) and Dhule Power Transmission Limited (DPTL). Techno will invest minority capital and will also be responsible for the complete execution of the projects on a Lump Sum Turnkey (LSTK) basis.
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Techno Electric Chairperson, Mr. padam Prakash Gupta, highlighted: “As a pioneer and lead in the energy transmission sector, Techno is immensely proud and honored to collaborate with IndiGrid, in advancing India’s transmission story. This partnership represents @ significant milestone for us, reflecting our commitment to leading the transformation of the energy landscape in India. With our deep execution capabilities, a strong balance sheet, and a shared vision for sustainable growth, we view this collaboration as a long-term strategic partnership that will shape the future of energy transmission in the country."
Techno Electric & Engineering Company Ltd (TEECL) is engaged in providing engineering, procurement and construction (EPC), asset ownership and operations and maintenance services in the power infrastructure industry. The company has a market cap of Rs 19,158 crore and has been maintaining a healthy dividend payout of 23.6 per cent.
The company’s current unexecuted order book stands at over Rs 9,200 crore including L1 orders. Expecting revenue of Rs 5,000 crores this year. The company targeting revenue of Rs 2,500 crores for the current year and Rs 3,500 crores for the next year. The company reported amazing numbers in its Quarterly Results and annual results.
The stock’s 52-week high is Rs 1,777 and its 52-week low is Rs 466. The stock gave multibagger returns of over 245 per cent in just 1 year whereas BSE Sensex Index is up by 22 per cent.
Investors should keep an eye on this Small-Cap civil construction stock.
Disclaimer: The article is for informational purposes only and not investment advice.