Technofab Engineering witnessed a sharp rise in share price on Wednesday after the company has bagged two new orders from Power Grid Corporation of India (PGCIL) amounting to Rs 2.2 billion in the state of Tripura.

Both orders are in the Industrial and Rural Electrification Sector and works related to 33/11 KV Sub Stations & associated lines. The orders have a timeline of 33 month for completion.

Shares of Technofab Engineering are trading at Rs 202.35, up Rs 18.9, or 10.30% at the Bombay Stock Exchange (BSE) on Wednesday at 9:33 a.m.

The scrip has touched an intra-day high of Rs 206.95 and low of Rs 195.25. The total volume of shares traded at the BSE is 12,870.

In the earlier session, the shares fell 0.84%, or Rs 1.55, at Rs 183.45. Currently, the stock is trading down 18.31% from its 52-week high of Rs 247.70 and above 45.58% over the 52-week low of Rs 139.00.