India's Techno Electric & Engineering Co jumps on contract win

Techno Electric & Engineering

17/08/2022 06:10

** Shares of power company Techno Electric & Engineering
Company Ltd  TEEC.NS  rise as much as 12.4% to 315 rupees, their
highest since July 11
    ** Co said on Tuesday it secured two new orders worth 14.55
bln rupees ($183.43 mln) from Rajasthan Rajya Vidyut Utpadan
Nigam for flue-gas desulfarisation  urn:newsml:reuters.com:*:nFWN2ZS0WS
    ** Rajasthan Rajya Vidyut Utpadan Nigam has placed the two
orders for two of its units - Kota and Jhalawar, the co added
    ** More than 634,000 shares change hands by 0442 GMT vs 6.1x
30-day avg of 103,383 shares
    ** Four out of the four analysts covering the stock have a
"buy" or "strong buy" rating, median PT is 357 rupees -
Refinitiv data
    ** Stock up 16.5% YTD up to last close

($1 = 79.3230 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))