Salasar Techno Engineering surged 20% to Rs 9.68 after the company announced that its board will meet on 26 March 2025, to consider the proposed amalgamation of EMC, its wholly owned subsidiary, with the company.
As EMC is a wholly owned subsidiary, no new shares will be issued in the merger.EMC is a key player in the engineering, procurement, and construction (EPC) sector, specializing in power transmission and distribution projects.
Salasar Techno Engineering is engaged in the business of manufacturing and sale of galvanized steel structure including telecom towers, transmission line towers and solar panels. The company is also engaged in execution of Engineering, Procurement and Construction projects (EPC) for survey, supply of materials, design, erection, testing & commissioning on a turnkey basis.
On a consolidated basis, net profit of Salasar Techno Engineering declined 28.04% to Rs 12.06 crore while net sales rose 23.46% to Rs 375.18 crore in Q3 December 2024 over Q3 December 2023.
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