Technofab Engineering hits the roof!

Technofab Engineering literally hit the roof today morning. It had closed yesterday at Rs.241 and opened today at Rs.279 to zoom up 20%, get locked at the upper circuit and this is its new high.

This new high is on the back of a new order win from domestic water sector, valued at Rs.281 crore. The company has not mentioned the name of the company giving the order.

This project is funded by Asian Development Bank.

The company said that this order gives a further impetus to the company’s standing in the water sector, soon after securing orders in Bhutan and Uganda, and recently completed projects in Tanzania and Zimbabwe.

With this the order backlog of the company stands at approximately Rs 2000 crore of which the water sector now contributes close to 45%.