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Salasar Techno Engineering Shares Rally 7% on Rs 364 Crore Contract

The order will be executed in phases over a period of 36 months.

Shares of Salasar Techno Engineering were trading 7% higher on 4 December after the company announced securing a contract worth Rs 364 crore.

In its regulatory filing, the company said that they have secured an engineering, procurement, and construction (EPC) contract worth Rs 364 crore from Tamil Nadu Generation and Distribution Corporation.

The contract states that the company has been entrusted with the supply, erection, and installation of feeder segregation, separation of double distribution transformer, high-voltage distribution system, and augmentation of 33-kilovolt lines.

The order will be executed in phases over a period of 36 months.

The company is in the business of manufacturing large and heavy steel structures and providing customised steel structures and EPC solutions to industries, including telecom, power and railways.

In the last six months, the shares of the company have gained around 24% against the Nifty 50 benchmark index gain of around 10.55% in the same period.

At 11:05 am, the shares of Salasar Techno Engineering were trading 3.72% higher at Rs 53 on NSE.

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