Technofab Eng up over 9.5%

Technofab Engineering, intraday, went to a highpoint at Rs.201.30, up 9.5% over previous close. Tye surge in volumes is astounding – from a two-week average trading volume of 735 shares, today morning alone it has risen to 11,000 shares. Its market cap is at Rs.205 crore, with promoters stake at 48.22%.

The stock is in the limelight today as it has announced receipt of new orders.

It has got a total of four orders – three from Power Grid Corporation for about Rs.255 crore in the State of Tripura. All three orders are in the Industrial and Rural Electrification Sector and works related to 33/11 KV Sub Stations & associated lines. The orders have a timeline of thirty three months for completion.

It has got one order from the Ministry of Agriculture and Animal Resources, Kigali, Rwanda for Construction Contract for Establishment of Centre of Excellence in Farm Mechanization for US$ 12.29 million, exclusive of Taxes and duties in Rwanda.