Salasar Techno Engineering jumps on securing contract from Energy Development Corporation
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Salasar Techno Engineering is currently trading at Rs. 52.85, up by 1.02 points or 1.97% from its previous closing of Rs. 51.83 on the BSE.
The scrip opened at Rs. 52.99 and has touched a high and low of Rs. 53.50 and Rs. 51.25 respectively. So far 36430 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 58.66 on 30-Aug-2023 and a 52 week low of Rs. 27.60 on 02-Nov-2022.
Last one week high and low of the scrip stood at Rs. 53.75 and Rs. 48.35 respectively. The current market cap of the company is Rs. 1670.08 crore.
The promoters holding in the company stood at 63.07%, while Institutions and Non-Institutions held 9.04% and 27.88% respectively.
Salasar Techno Engineering (STEL) has been awarded a prestigious contract worth $9.40 million equivalent to Rs 75.24 crore by Energy Development Corporation for the Rwanda Transmission System Reinforcement and Last Mile Connectivity project. This order is in line with the managements vision to provide exceptional and cutting edge EPC solutions across international markets.
Supported by its capability to cater large-scale orders, the company is entrusted with the responsibility of providing end-to-end EPC solution of designing, supplying, and installation of 110kv transmission lines connecting the African regions of Rwinkwavu-Kirehe, Gabiro-Nyagatare and Rulindo-Gicumbi. The above contract further strengthens its order book and is expected to get completed within 18 months.
Salasar Techno Engineering is leading provider of customized steel fabrication and infrastructure solution in India.
