Salasar Techno Engineering shares rallied more than 4% on 26 September after the company announced the commissioning of a Zinc Galvanization plant.

The company informed the exchanges in its exchange filing that it has successfully completed the commissioning of the new Zinc plant, which has an annual capacity of 96,000 metric tonnes.

In a separate filing on 25 September, the company announced that Jitendra Kumar Sharma had handed the firm his resignation from the post of company secretary and compliance officer at the firm, effective 24 September 2023, due to some personal reasons.

The company has accepted his resignation, and they will appoint his successor in a short duration of time.

In its quarterly report for the April-June quarter, the company reported a 38.28% YoY increase in its net profit at Rs 10.14 crore from the Rs 7.33 crore reported in the year-ago quarter. The operating revenue saw a 24.08% YoY increase at Rs 261.86 crore for Q1FY24 against the Rs 210.67 crore reported in Q1FY23.

In the last six months, the shares have gained over 45.83% against the 15.96% return given by the benchmark Nifty50.

At 3:05 pm, the shares of Salasar Techno Engineering were trading at Rs 52.90 or 3.42% above its previous close.