Technofab Engineering announced that it had won an order worth Rs281cr for a domestic water project. The project is to be funded by Asian Development Bank.
The company’s order backlog currently stands at ~Rs2,000cr. The contribution of the water segment to the order book stands close to 45%.
The company also stated that it expects more growth from the water segment going forward.
As on July 1, 2017, the sectoral break-up of the order book was – 33% for water supply and treatment, 7% power and industrial, and 60% for Electrical (T&D & substations).
The stock is currently trading at Rs 289.2, up by Rs 48.2 or 20% from its previous closing of Rs 241 on the BSE. The scrip opened at Rs 279 and has touched a high and low of Rs 289.2 and Rs 279 respectively.
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