The shares of the power infrastructure company were in green after the company signed an MOU for the development of a data center campus in India. The shares have given a multibagger return of 110 percent to its stakeholders on a YTD basis.
For example, if someone had invested Rs. 1 lakhs since January, then, the worth of those shares would be Rs. 2.10 lakhs now.
With a market capitalization of Rs. 7,871 crores, the shares of Techno Electric and Engineering Company Ltd opened Wednesday’s trading session on a higher note at Rs. 725.30 compared to its previous close at Rs. 715.50. The company hit an intraday high of Rs. 751 and closed its day at Rs. 714 apiece.
In an exchange filing the company informed that they have entered into a non-binding memorandum of understanding (MOU) with Keppel Data Centres Private Limited (KDCI) to explore potential collaboration in a greenfield development of a data center campus in India.
Digging into the financials of the company, the revenue increased by 68 percent from Rs. 273.93 crores in the June quarter to Rs. 462.29 crores during the September quarter. In addition, the net profit magnified by 192 percent from Rs. 25.26 crores to Rs. 73.78 crores during the same timeframe.
Coming onto the important financial ratios, the return on equity (RoE) decreased from 13.87 percent during FY 21-22 to 5.13 percent in FY 22-23. Moreover, the return on capital employed declined from 17.5 percent to 8.2 percent during the same period.
According to the latest shareholding pattern, the Promoters have a 61.51 percent stake in the company, the Public have 11.63 percent shares, DIIs have a considerable stake of 24.58 percent, and the remaining 2.29 percent are with FIIs.
Headquartered in Kanpur, Techno Electric and Engineering Company Ltd was incorporated in 2005. The company provides Engineering, Procurement, and Construction (EPC), asset ownership, and operations and maintenance services in the three industry segments, i.e., generation, transmission, and distribution.
Written By Vaibhav Patil
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