Techno electric has been a relative laggard in the recent run up in markets. Fundamentally things seem to be gradually falling in place for the company. Buyback from market is going on currently, which usually is a good sign going ahead, as equity gets reduced. Company has decent cash in balance sheet, and order book remains strong. Management is confident about doubling revenues in next 3 years.
On the stock price front, its quite static being range bound between 270-300. One needs to be patient here, or else buy on breakout past resistance.
@Paxrxxthi The whole IT pack had a strong run up in the past few quarters and its time as of now seems over. Since it was in fancy valuations had reached much beyond normalised and the whole sector was overowned. And there are still a lot of guys who are looking at it for buying. So to me it seems as a sector to avoid. Same applies to wipro .
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