Salasar wins US$ 2.43 million order; stock up by 3 per cent

The shares of Salasar Techno Engineering were trading in green after the company declared after trading hours on Tuesday that it has received an order for the supply of 189 telecom towers to American Tower Corporation (ATC) Nigeria for a total consideration of US$ 2.43 million (Rs 18.50 crore at current exchange rate).

Earlier, the company had signed a tower supply agreement with ATC Africa and has now received their first order. It plans to execute the order during the next two months.

As on March 31, 2020, the company had an EPC order book in hand amounting to Rs 325 crores to be executed in the next six to eight quarters. Even during the lockdown, orders worth Rs 60 crores were received from two State Power Corporations, taking the total of current orders in hand for EPC business to Rs 385 crore.

Incorporated in 2007, Salasar Techno Engineering is a provider of customized steel fabrication and infrastructure solutions. Its primary products include telecommunication towers, smart lighting poles, utility poles, power transmission line towers, high mast poles, stadium lighting poles and monopoles.

On Wednesday, the stock of Salasar Techno Engineering was trading at Rs 185.40, up by 3.20 per cent or Rs 5.75 per share. The 52-week high is recorded at Rs 193.90 and the 52-week low is Rs 68.80 on BSE.