Salasar Techno Engineering climbs over 3 per cent on bagging orders from ITI Bangalore

On Wednesday, Salasar Techno Engineering informed that it has received a letter of acceptance (LOA) from ITI Bangalore for constructing telecom towers at various locations in India.   

The project is of national importance as these towers will be a part of the Army Static Switched Communication Network, i.e. – the ASCON Phase-4 project, which will give a big boost to the operations capability of the defence forces.  The towers to be constructed will be of different heights from 30 metres to 120 metres and will be used to improve the defence communication network.  

In its filing to BSE, the company stated that the cost of the work allocated is Rs 54.90 crore (exclusive of GST), which will involve the design, supply, construction & commissioning of the towers across various army bases.   

Incorporated in 2007, Salasar Techno Engineering is a provider of customised steel fabrication and infrastructure solutions. Its products include telecommunication towers, power transmission line towers, smart lighting poles, utility poles, high mast poles, stadium lighting poles, and others. The company provides services that include complete engineering, procurement and control of projects such as rural electrification, power transmission & solar power plants.   

At the time of market closing on Wednesday, the shares of Salasar Techno Engineering Limited were trading at Rs 642.35, up by 3.55 per cent. The 52-week high of the company is recorded at Rs 650.65 while its 52-week low is Rs 96.80 on BSE.