/ Techno Electric Sells Wind Power Assets, Nears 52 Week High ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 12 January 2017

Techno Electric and Engineering company, an engineering, procurement and construction (EPC) service provider to most industries, has sold 33 mw wind power assets. The assets are situated in Tamil Nadu, and are worth Rs 165.19 crores. Now company will hold remaining 12 mw of wind power assets with itself. 

Thereby, Techno Electric and its subsidiary, Simran Wind Project Limited together will hold a portfolio of 129.9 mw of wind power assets on a consolidated basis going forward. The stock of Techno Electric and Engineering is up by 1.85% at Rs 347.55 and has neared its 52 week high level at 360, by posting an intraday high of 359.9. 

The stock has rallied after taking a multiple support at 290 levels, but has seen resisting the 52 week high levels today. Now lets see whether it gives a fresh breakout and rally, or posts a double top and corrects from here.

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