Technofab Eng continues to rise

Technofab Engineering was doing well yesterday and today too, it continues to trade in the green. Opening higher at Rs.144.85 v/s yesterday’s close of Rs.141, the stock is currently at Rs.144.90, its intra day high point as of now. Its 52-week high is at Rs.167.

The stock is in the green, enthused by receipt of two orders. The company informed the exchanges yesterday that of the several bids made, two were successful and it has received letter of award for Rs. 54 crore. This is for a waste water rehabilitation project in Kenya. The second order is for Rs. 208 crore for a rural electrification project in Bihar. With this the total order book of the company has crossed Rs. 1500 crore.

Technofab Engineering is a medium sized electro - mechanical engineering and construction company, serving the Power, Industrial and Infrastructure sectors. The company had ended Q2FY15 with a whopping 204% (YoY) jump in net profit at Rs.1.5 crore on a meagre 8% rise in net sales at Rs.91 crore. A lower base effect and other income helped boost the YoY bottomline.