Multibagger under Rs 100: Secures a significant order worth Rs 75 crore; know more here!
The stock has achieved multibagger status, delivering an exceptional return of over 476 per cent over the last three years.
Founded in 2006 initially as a tower manufacturer, Salasar Engineering Limited has rapidly evolved into a dynamic steel structure manufacturer and EPC infrastructure company. Their services span across multiple sectors, including telecom, energy, and railways.
On September 18, 2023, the company has secured a significant EPC contract valued at Rs 75.238 crore from Energy Development Corporation Limited. This contract is for the establishment of a 110kv transmission line.
STEL has achieved a noteworthy milestone by being awarded this prestigious contract for the Rwanda Transmission System Reinforcement and Last Mile Connectivity project. This accomplishment aligns with the company's vision to deliver exceptional and cutting-edge EPC solutions on the international stage.
This contract not only bolsters the company's order book but is also anticipated to be completed within 18 months, further solidifying STEL's position in the field of engineering and infrastructure solutions.
Commenting on the order win, the management team of STEL said: “We are delighted to announce a significant achievement that underscores our commitment to excellence and our capabilities in delivering cutting-edge infrastructure solutions. STEL has secured a monumental EPC contract valued at USD 9.40 million (Rs. 752.38 Mn) for designing, supply, and installation of a 110kV transmission line in the African region of Rwinkwavu-Kirehe, Gabiro-Nyagatare, and Rulindo-Gicumb. This order has enabled us to expand our presence in exports market serving as a testament to the trust placed by the foreign clients on STEL's capability to execute the orders promptly while upholding the best in class industry standards.
Africa, with its vast potential and growing energy demands, remains a region of promising market with enormous growth potential and our achievement in securing this contract underscores our established reputation for technical excellence, dependability, and strong international competitiveness.”
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Today, the shares of Salasar Engineering Limited plunged 1.81 per cent. Furthermore, the scrip witnessed a spurt in volume by more than 1.43 times. The company's current market capitalisation is Rs 1,648.61 crore.
In addition to this, the stock has achieved multibagger status, delivering an exceptional return of over 476 per cent over the last three years.
Disclaimer: The article is for informational purposes only and not investment advice.