Salasar Techno Engineering rallied 4.05% to Rs 272.20 after the company secured a purchase order of Rs 170 crore from Rites.
As per the exchange filing, the project consists of the - "Railway Electrification of 25kV OHE works including TSS General Electrification, Civil Engineering works including Tower Wagon Shed, Service Buildings, Staff Quarters, Track works and Signalling and Telecommunication works on existing track of single line section of Udaipur city (Excl.) - Himmatnagar (Excl.) 210 RKM (234.99 TKM) section of Ajmer division of North Western Railway."
Salasar Techno Engineering's consolidated net profit jumped 22.6% to Rs 10.02 crore on a 35.7% surge in net sales to Rs 200.19 crore in Q2 FY22 over Q2 FY21.
Salasar Techno Engineering is a provider of customized steel fabrication and infrastructure solutions in India.
Meanwhile, shares of Rites declined 1.34% to Rs 269.40 on BSE. The scrip hit an intraday high and low of Rs 273.05 and Rs 266.80 respectively.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.