Shares of Salasar Techno Engineering Ltd are trading flat after touching a day’s high of Rs 10.79 on 27th November, even though the firm announced on Thursday (26th November) that it has secured two contracts worth a combined Rs 695.18 crore from Rail Vikas Nigam Ltd.

The company said both orders are for developing distribution infrastructure. This aims to reduce power losses across the Mandi, Bilaspur, Kullu, and Hamirpur circles. It falls under the Himachal Pradesh State Electricity Board’s central zone as part of the Revamped Distribution Sector Scheme.

The first contract, worth about Rs 524.99 crore including GST, covers Service Support and Procurement Management. This involves electrical and mechanical equipment.

The second contract, valued at around Rs 170.19 crore including GST, is for erection work. This is linked to the same distribution upgrade.

Salasar added that both contracts, awarded by a domestic entity, will be completed within 20 months. The company also clarified that its promoters and related parties have no interest in RVNL. Furthermore, the orders are not related-party transactions.

At 12:26 PM, shares of Salasar Techno were trading 0.50% lower at Rs 9.99 on NSE.

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