Techno Electric & Engineering Company Ltd (TEECL) Shares skyrocketed 10% and hit a 52-week high of Rs 1,067.55 on 29 April after the company announced receiving significant orders worth Rs 4,063 crore.
In its regulatory filing, the company said that it has received orders for engineering, procurement, and construction work from multiple significant companies, including Adani Transmission and REC Power Distribution Company.
The orders received are:
- Power Grid Corporation provided an order for establishing a 765 kilovolt Substation Package for the Solar Energy Zone in Bidar, with a total order value of Rs 241 crore.
- Adani Transmission provided an order to establish a 765 kilovolt Substation Package at Halvad, Gujarat, for a total consideration of Rs 120 crore.
- Aparva Energy provided an order for establishing a 765/400 kilovolt Substation Package at Karera, MP, with a total order value of Rs 175 crore.
- Millenium Challenge Account provided an order to establish a 400 kilovolt Substation at Lapsiphedi, New Hetauda, and New Damauli, Nepal, for a total consideration of Rs 760 crore.
- Indigrid provided an order for developing a 4×500 megavolt-amperes (MVA), 400/220 kilovolt (kV) Pooling Substation at Dhule, Maharashtra and another order for 2×1500 MVA, 765/400 kV and 2×500 MVA, 400/220 kV Substation, at Ishanagar, MP for a total order value of Rs 904 crore.
- TEECL has won the bid under Tariff-Based Competitive Bidding (TBCB) to establish an Inter-State transmission system for these projects on a build, own, operate, and transfer (BOOT) basis for a total Revenue of Rs 1750 crore.
- Damodar Valley Corporation provided an order for establishing 12 x 33/11 KV EHouse GIS Substations with 33/11 KV cable work at the DVC Command Area of 120 km, with a total order value of Rs 291 crore.
- REC Power Distribution provided an order for installing and operating Smart Meters in Tripura, Ranchi and Indore on a DBFOOT Basis for a total consideration of Rs 1,571 crore.
The company reported receiving fresh orders for transmission infrastructure and sophisticated metering starting in early January, totalling Rs 1,750 crore.
At 2:36 pm, the shares of Techno Electric were trading % higher at Rs 1,019.45 on NSE.
