Techno Electric & Engineering Company saw its shares rise by 5% following the announcement of a strategic partnership with IndiGrid. The collaboration aims to develop two of IndiGrid’s greenfield Interstate Transmission System (ISTS) projects.
Key Details:
- Partnership Overview:
- Techno Electric has signed a Securities Subscription Cum Shareholders Agreement (SSSHA) with IndiGrid.
- The agreement involves co-developing and investing in two ISTS projects: Ishanagar Power Transmission (IPTL) and Dhule Power Transmission (DPTL).
- Role of Techno Electric:
- The company will invest minority capital in the projects.
- Techno Electric will handle the complete execution of the projects on a Lump Sum Turnkey (LSTK) basis.
Market Response:
- As of 9:55 am, Techno Electric & Engineering shares were trading at ₹1,729.60 on the NSE, reflecting a 5% increase.
