Shares of Technofab Engineering hit 20 per cent upper circuit limit on Wednesday as the company has received a new order in the domestic water sector worth Rs 281 crore. The project is funded by Asian Development Bank.
According to a BSE filing, this order gives further impetus to the company’s standing in the water sector, coming as it does, soon after securing orders in Bhutan and Uganda, and recently completed projects in Tanzania and Zimbabwe.
With this, the order backlog stands at approximately Rs 2,000 crore of which the water sector now contributes close to 45 per cent.
The stock has touched a 52-week high of Rs 289.20.