Upper Circuit Alert: Stock Under Rs 60 Bags Rs 75.24 Cr Order, Gains 476% In 3-Yrs

Small cap stock Salasar Techno Engineering (STEL) operating witnessed a rally in shares on Monday after the company informed BSE that it has bagged an EPC contract worth USD 9.40 Mn from Energy Development CorporaHon Limited for setting up of 110kv transmission line. Current market price of Salasar Techno stock is Rs 53.55 per share on BSE with intraday gain of 3.32% at the time of writing the story. It is worth mentioning that Salasar Techno shares traded ex-dividend on September 15, 2023 for Re 0.10 per share dividend. Check details below:

Salasar Techno Shares Gain On Bagging New Order: According to the BSE filing of Salasar Techno dated September 18, 2023, "STEL a leading player in the field of engineering and infrastructure solutions, has been awarded a prestigious contract worth USD 9.40 Mn equivalent to Rs. 752.38 Mn by Energy Development Corporation Ltd. 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."

The BSE filing further stated, "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, GabiroNyagatare, and Rulindo-Gicumbi."

Salasar Techno Stock Outlook & Return: Current market price of Salasar Techno share is Rs 53.55 per share with intraday gain of 3.32 on BSE. Its 52-week high price is Rs 58.66 per share and 52-week low price is Rs 27.60 per share, respectively. The company's market capitalisation is Rs 1679.55 crore.

Salasar Techno shares fell 2% in last 1-month, gained 20% in last 6-months, surged 60% in last 1-year, rallied 88% in last 2-years, and offered shareholders return of 487% in last 3-years. Salasar Techno stock witnessed a rally of 268% in last 5-years.

Salasar Techno About: It is an Indian Infrastructure company that provides customised steel fabrication and EPC solutions to the global market. In the year 2006, Salasar started out as a tower manufacturer. Tower manufacturers rarely provided multiple solutions under one roof. Salasar sought to fill this gap by aspiring to become a one-stop shop for India's telecom giants by carrying out engineering, designing, procurement, fabrication, galvanization and EPC under one roof. It has expanded its range of products and services to encompass all the infrastructural needs of a rapidly developing nation, according to its official website.

Disclaimer

The stock just highlights the rally in shares on receiving new order and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.