Salasar Techno Engineering Shares Jump Following Major Orders
Salasar Techno Engineering, a company that builds structures for things like cell towers and railways, saw its stock price rise by 7.8% on the BSE (a major stock market). This jump happened because they won two big contracts from Rail Vikas Nigam Limited (RVNL), a government company that builds railway projects. The stock price also rose by 2.1% to ₹10.19 per share.
Key Points
- RVNL awarded Salasar Techno two contracts worth ₹695.18 crore.
- These contracts are for building infrastructure to reduce electricity loss.
- The projects will take approximately 20 months to complete.
- Salasar builds structures for telecom, energy, and railway sectors.
- The company’s stock jumped due to positive order announcements.
- Salasar offers a ‘one-stop shop’ for infrastructure projects.
The first contract involves helping the Himachal Pradesh State Electricity Board Limited (HPSEBL) by building and maintaining electrical and mechanical equipment in four regions—Mandi, Bilaspur, Kullu, and Hamirpur. This is part of a government program called the ‘Revamped Distribution Sector Schemes (RDSS)’. The total value of this project is ₹524.99 crore.
The second contract is similar, also focused on reducing electricity loss in the same areas. Salasar will also be installing the equipment. This part of the project is worth ₹170.19 crore. Both projects will be finished within 20 months.
Salasar started in 2006 and originally focused on making cell towers. They quickly grew to offer a full range of services—from designing and building things to installing and maintaining them. They now work on many different infrastructure projects across India.
Importantly, Salasar says neither the company’s owners nor related businesses have any connection to RVNL. This means these contracts are completely independent. Both contracts are governed by standard construction agreements.
Ultimately, Salasar’s success shows how important it is for companies to win big government projects to drive their stock prices up.
