Salasar Techno Engineering up 3% on winning Rs 364-crore EPC contract

The company has bagged an EPC contract worth Rs 364 crore from Tamil Nadu Generation and Distribution corporation (TANGEDCO).

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The share price of Salasar Techno Engineering gained 3 percent in early trade on December 4 after the company bagged a contract worth Rs 364 crore.

At 9:35am, Salasar Techno Engineering was quoting Rs 52.98, up Rs 1.87, or 3.66 percent, on the BSE.

The company has bagged an EPC contract worth Rs 364 crore from Tamil Nadu Generation and Distribution corporation (TANGEDCO). The project will be executed in successive phases within 36 months.

Under the contract, the company is entrusted with the supply, erection, and installation of feder segregation, high-voltage distribution system, separation of double distribution transformer, and augmentation of 33KV lines.

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The company had reported 21.7 percent increase in its September quarter net profit at Rs 9.06 crore.

Salasar Techno is engaged in manufacturing of large and heavy steel structures, and providing customised steel structures and EPC solutions to diverse range of industries, including telecom, power and railways.