Techno Electric volatile
Techno Electric & Engineering Company (TEEC) is pretty volatile today; opening over 2% higher at Rs.304, profit booking soon pushed down the stock into the red, currently trading 0.5% lower. Volumes have been on the higher side for the past couple of days, for which the stock exchange had sought clarification and the company said that it could be on account of “trading/transactions may have been carried out by Mutual Funds either between their Schemes or between the Mutual Funds or by Financial Institutions.”
There was no other material development except the company yesterday said that it has secured new orders worth Rs 1,455 crore for Flue Gas Desulfurization (FGD) from Rajasthan Rajya Vidyut Utpadan Nigam.
Out of this, Rs.666 crore order was from Rajasthan Rajya Vidyut Utpadan Nigam, Kota (1x210 MW +2 X 195 MW) and Rs 789 crore from the Rajasthan Rajya Vidyut Utpadan Nigam, Jhalawar (2x 600 MW).