Salasar Techno Engineering added 1.13% to Rs 599.50 after the company said it secured a project worth Rs 238.65 crore from Power Grid Corporation of India (PGCIL).
PGCIL, vide their letter dated 22 May 2021, has awarded power projects to Salasar Techno Engineering. The orders include construction of 201 Km transmission line network and construction of 4 new power substations in the Arunachal Pradesh.The transmission line network will be of 132KV type and the substations will be of the extra high voltage capacity. The estimated cost of the work allocated to the company is Rs 238.65 crore. It involves supply, construction, erection, testing and commissioning of transmission towers and substations.
Salasar Techno Engineering is a provider of customized steel fabrication and infrastructure solutions in India.
The company's consolidated net profit surged to Rs 11.59 crore in Q3 FY21 from Rs 2.16 crore in Q4 FY20. Net sales 72.68% YoY to Rs 174.36 crore during the quarter.
On a year-to-date (YTD) basis, the stock has zoomed 153.47% while the benchmark Sensex has added 6% during the same period.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
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.
Digital Editor
RECOMMENDED FOR YOU