Techno Electric & Engineering Company advanced 2.59% to Rs 286.70 at 11:15 IST on BSE, after a domestic mutual fund bought 1.9% stake in the company on Tuesday, 23 September 2014.
Meanwhile, the BSE Sensex was down 37.93 points, or 0.14%, to 26,737.76
On BSE, so far 9,819 shares were traded in the counter as against an average daily volume of 18,054 shares in the past one quarter.
The stock hit a high of Rs 296 and a low of Rs 285.50 so far during the day. The stock had hit a 52-week high of Rs 305 on 18 September 2014. The stock had hit a 52-week low of Rs 74.75 on 25 September 2013.
The stock had outperformed the market over the past one month till 23 September 2014, rising 5.93% compared with 1.35% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, gaining 1.07% as against Sensex's 6.97% rise.
The small-cap electrical equipments maker has an equity capital of Rs 11.42 crore. Face value per share is Rs 2.
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SBI Mutual Fund under its SBI Emerging Businesses Fund bought 10.86 lakh shares in Techno Electric & Engineering Company at an average price of Rs 275 per share in a bulk deal on NSE on Tuesday, 23 September 2014. Aarkay Investment sold 11 lakh shares at an average price of Rs 275.01 per share in a bulk deal on NSE on Tuesday, 23 September 2014. Aarkay Investments owned 43.35 lakh shares or 7.59% stake in the company (as per shareholding pattern as on 30 June 2014).
Techno Electric & Engineering Company's consolidated net profit dropped 16.6% to Rs 23.34 crore on 9.2% rise in net sales to Rs 180.56 crore in Q1 June 2014 over Q1 June 2013.
Techno Electric & Engineering Company provides high quality engineering, procurement and construction services to India's core sector industries; both in the public and private domain.
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