Salasar Techno Engineering jumps 8% on securing two orders from RVNL

Salasar Techno Engineering shares jumped 7.8 per cent on the BSE, logging an intra-day high at ₹10.76 per share. The buying on the counter came after the company secured two orders worth ₹695.18 crore by Rail Vikas Nigam (RVNL).

 

“We hereby inform you that Salasar Techno Engineering Limited (“STEL” or “the Company”) has been awarded two prestigious contracts aggregating to approximately INR 695.18 Crores by Rail Vikas Nigam Limited (RVNL), New Delhi,” the filing read.

 

At 9:44 AM, Salasar Techno’s share price was trading 2.1 per cent higher at ₹10.19 per share on BSE. In comparison, the BSE Sensex was up 0.16 per cent at 85,747.61.

 

Make smarter market moves with The Smart Investor. Daily insights on buzzing stocks and actionable information to guide your investment decisions delivered to your inbox.

Subscribe

 

The company has a total market capitalisation of ₹1,759.58 crore. Its 52-week high was at ₹16.68 and 52-week low was at ₹6.89. 

 

In the first contract,  the company will service, support and procure electrical and mechanical items to develop distribution infrastructure for loss reduction in the Mandi, Bilaspur, Kullu, and Hamirpur regions of Himachal Pradesh State Electricity Board Limited (HPSEBL), under the Revamped Distribution Sector Schemes (RDSS).  CATCH STOCK MARKET LIVE UPDATES TODAY

 

In the second contract,  the company will install work for developing distribution infrastructure for loss reduction in the same Mandi, Bilaspur, Kullu, and Hamirpur regions of HPSEBL, also under the RDSS.

 

The service support and procurement management contract is valued at ₹524.99 crore and the erection work is estimated at ₹170.19 crore.  The project is expected to be completed within 20 months. 

 

Salasar stated that the contracts, awarded by a domestic entity, will be executed within a period of 20 months. The company confirmed that neither the promoter group nor related parties have any interest in RVNL, and the orders do not fall under related-party transactions. Both projects are governed by the General Condition Contract framework.

 

Salasar Techno Engineering is a steel structure manufacturer and engineering, procurement and construction infrastructure company, catering to telecom, energy and railways sectors.

 

Salasar Techno Engineering began operations in 2006 as a tower manufacturer with a vision to transform a fragmented industry. At a time when most tower players offered limited, stand-alone services, the company positioned itself as a one-stop shop for telecom majors — handling engineering, design, procurement, fabrication, galvanisation and turnkey EPC under one roof. Leveraging its expertise in steel and execution, Salasar has since moved beyond telecom towers and today offers a wide range of products and services that cater to the broader infrastructure needs of a rapidly developing India.