Techno Electric to raise Rs 750 cr;stk surges
Shares of Techno Electric surged higher on reports that it is in talks with Standard Chartered bank & DBS Bank to raise Rs 750 crore of debt to part finance its 200 mw wind power project in Tamil Nadu.
By ET Bureau |
MUMBAI: Shares of Techno Electric surged higher on reports that it is in talks with Standard Chartered bank & DBS Bank to raise Rs 750 crore of debt to part finance its 200 mw wind power project in Tamil Nadu.
The company plans to invest about 1,150 crore in the wind power project in two phases. The first phase will include a 125 mw capacity and is expected to be commissioned by June 2011 in Tamil Nadu.
The second phase will include a 75 mw project. It will be commissioned by March next year.
The stock was at Rs 223, up 7.29 per cent on the BSE. It touched a high of Rs 228.40 and low of Rs 209 in trade so far.
The company plans to invest about 1,150 crore in the wind power project in two phases. The first phase will include a 125 mw capacity and is expected to be commissioned by June 2011 in Tamil Nadu.
The second phase will include a 75 mw project. It will be commissioned by March next year.
The stock was at Rs 223, up 7.29 per cent on the BSE. It touched a high of Rs 228.40 and low of Rs 209 in trade so far.
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