Salasar Techno Engineering soars on securing LoI worth Rs 143 crore
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Salasar Techno Engineering is currently trading at Rs. 51.80, up by 2.05 points or 4.12% from its previous closing of Rs. 49.75 on the BSE.
The scrip opened at Rs. 49.15 and has touched a high and low of Rs. 52.20 and Rs. 49.15 respectively. So far 439954 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 58.30 on 21-Dec-2022 and a 52 week low of Rs. 20.20 on 14-Feb-2022.
Last one week high and low of the scrip stood at Rs. 53.15 and Rs. 49.15 respectively. The current market cap of the company is Rs. 1633.77 crore.
The promoters holding in the company stood at 63.07%, while Institutions and Non-Institutions held 9.41% and 27.52% respectively.
Salasar Techno Engineering has secured the Letter of Intent (LoI) worth Rs 143 crore from Nepal Electricity Authority (NEA) for Procurement of Material equipment, associated accessories and necessary installation services including design, erection, testing and commissioning of 33/11 KV Substations and 33 KV, 11 KV, 400 V Lines and Distribution system Networks in Dang, Rukum East and Baitadi Districts of Nepal. The said order strengthens the company’s existing order book and will be executed in next 24 months i.e. over FY23, FY24 and FY25.
Salasar Techno Engineering is leading provider of customized steel fabrication and infrastructure solution in India.
