India's leading material handling equipments maker Elecon Engineering Company has bagged an order worth Rs 18.50 crore from Techpro Systems Ltd., Chennai.

The scope of work includes supply of 1 No. Stacker Reclaimer and other Equipment for Coal Handling System of 1050 MW Coal Fired Thermal Power Project at Maithon Power Ltd.

The work involves design, engineering, manufacturing, testing, supplying, erectioning and commissioning of Material Handling Equipments and other Equipment.

India's leading broking house, PINC Research has suggested a buy rating on Elecon Engineering Company with a 15-month price target of Rs 60 in its January 6, 2008 research report.