Monday , 29 November 2021
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Triveni Engineering shines on signing agreement with GEAE Technology

Triveni Engineering shines on signing agreement with GEAE Technology

Triveni Engineering & Industries is currently trading at Rs. 193.25, up by 5.10 points or 2.71% from its previous closing of Rs. 188.15 on the BSE.

The scrip opened at Rs. 188.30 and has touched a high and low of Rs. 194.55 and Rs. 188.30 respectively. So far 17929 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 220.00 on 19-Oct-2021 and a 52 week low of Rs. 62.45 on 21-Dec-2020.

Last one week high and low of the scrip stood at Rs. 209.85 and Rs. 185.65 respectively. The current market cap of the company is Rs. 4548.62 crore.

The promoters holding in the company stood at 68.43%, while Institutions and Non-Institutions held 8.09% and 23.48% respectively.

Triveni Engineering & Industries has signed a 10-year business agreement with GEAE Technology USA to locally manufacture the ‘LM2500’ gas turbine base and enclosure. Under the agreement, GEAE Technology USA has licensed Triveni to locally manufacture the LM2500 gas turbine’s base frame, acoustic enclosure, and lubricating oil skid and supply other source-controlled accessories that go into the LM 2500 gas turbine enclosure assembly.

The LM2500 is the chosen propulsion gas turbine by the Indian Navy for many of its surface combatant vessels. It has power ranging from 25 MW to 35 MW and has been in service with over 40 navies globally.

Triveni Engineering & Industries is a focused, growing corporation having core competencies in the areas of sugar and engineering. The Company is one amongst the largest sugar manufacturers in India and the market leader in its engineering businesses comprising high speed gears, gearboxes, and water treatment solutions.