Techno Electric & Engineering Company rose 4.20% to Rs 406.80 at 13:07 IST on BSE after the company said its subsidiary sold wind power assets in Tamil Nadu for Rs 215 crore.
The announcement was made during trading hours today, 14 May 2015.
Meanwhile, the BSE Sensex was down 233.08 points, or 0.86%, to 27,018.02.
On BSE, so far 2,483 shares were traded in the counter, compared with an average volume of 7,929 shares in the past one quarter.
The stock hit a high of Rs 410 and a low of Rs 389.50 so far during the day. The stock hit a 52-week high of Rs 455.20 on 4 March 2015. The stock hit a 52-week low of Rs 179.10 on 14 May 2014.
The stock had outperformed the market over the past one month till 13 May 2015, falling 1.61% compared with 6.17% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 9.56% as against Sensex's 6.34% fall.
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The small-cap company has an equity capital of Rs 11.42 crore. Face value per share is Rs 2.
Techno Electric & Engineering Company announced that Simran Wind Project (SWPL), a 96.62% subsidiary of the company, has sold 44.45 megawatts (MW) wind power assets situated in Tamil Nadu at an effective valuation of Rs 215 crore. Post this transaction, SWPL continues to hold 117.9 MW of wind power assets. Techno Electric along with its subsidiary SWPL will have a portfolio of 162.9 MW of wind power asset post above transaction, the company said in a statement.
On a consolidated basis, net profit of Techno Electric & Engineering Company declined 64.48% to Rs 12.31 crore on 23.43% rise in net sales to Rs 180.04 crore in Q3 December 2014 over Q3 December 2013.
Techno Electric & Engineering Company is a leading provider of high quality engineering, procurement and construction services to India's core sector industries; both in the public and private domain.
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