TECHNO announces Sale/Disposal of Wind Power Asset

Techno Electric & Engineering Company Limited ("TECHNO") has sold/disposed off 37.50 MW of its Wind Power Assets out of the 111.90 MW situated in Tamilnadu at an approximate consideration of Rs. 158.93 Crores and entered into MOUS for the sale of another 71.40 MW. TECHNO had installed 111.90 MW wind power assets in the year 2011.

Commenting on the wind asset sale, Mr. P. P. Gupta, Managing Director, TECHNO said, the sale of wind power assets announced today is in line with our strategy to exit the wind energy business and invest in our future growth plans, including expanding our international presence. With the continuing momentum in divestment of long-term assets and non-core businesses, TECHNO remains focused on executing its strategy of pursuing growth in targeted core EPC businesses."

Shares of Techno Electric & Engineering Company Limited was last trading in BSE at Rs. 360.10 as compared to the previous close of Rs. 354.90. The total number of shares traded during the day was 10962 in over 907 trades.

The stock hit an intraday high of Rs. 364.95 and intraday low of 350.00. The net turnover during the day was Rs. 3918825.00.

Source : Equity Bulls

Keywords

TechnoElectricandEngineeringCompany INE285K01026 Sale Disposal WindPowerAssets FundRaising