Techno Electric and Engineering Company Ltd completes acquisition of NERES XVI PTL

Techno Electric and Engineering Company Ltd has completed successful acquisition of M/s. NERES XVI Power Transmission Limited ("NERES XVI PTL") from REC Power Development & Consultancy Limited ("RECPDCL"), along with all its assets and liabilities on May 30, 2024. Earlier the Company was declared the successful bidder selected through tariff based competitive bidding process.

Hence, with effect from the aforesaid date, the above project specific SPV i.e. NERES XVI PTL become a Subsidiary of Techno Electric & Engineering Company Limited.

Shares of Techno Electric & Engineering Company Limited was last trading in BSE at Rs. 1421.30 as compared to the previous close of Rs. 1206.55. The total number of shares traded during the day was 75389 in over 6172 trades.

The stock hit an intraday high of Rs. 1447.85 and intraday low of 1230.70. The net turnover during the day was Rs. 99633148.00.

Source : Equity Bulls

Keywords

TechnoElectricandEngineeringCompany INE285K01026 Acquisition Complete NERESXVIPTL