122% return in 1 year: Salasar Techno shares hit fresh 52-week high as company shares PSU, railway order updates

The company said that it has been declared a successful bidder (L-1) for various additional contracts.

The counter has given a return of around 122 per cent in the last year one.

Shares of Salasar Techno Engineering Ltd surged by over 7 per cent on Wednesday to hit its fresh 52-week high of Rs 115.89 on the BSE. The counter had closed at Rs 107.95 in the last trading session.

The surge in price comes as the company shared the status of its railway and power sector PSU orders.

According to the company, it has built its presence in the railway and power sector by executing contracts for transmission lines, sub-stations and distribution lines awarded by power sector PSUs and Indian Railways. The worth of these contracts is around Rs 7,310.3 million.

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The company said that it has been declared a successful bidder (L-1) for various additional contracts.

Following this news, the stock hit its new 52-week high. The 52-week low of the stock is Rs 36.

The counter has given a return of around 122 per cent in the last year one. It has made investors wealthier by around 362 per cent in the last two years.

Earlier in December, the company announced the issue of bonus shares in the proportion of 4:1 i.e. four new fully paid-up bonus equity shares of the face value of Re 1 each will be provided for one existing fully paid-up equity share of Rs 1 each held by the shareholder.

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Salasar Techno Engineering BSE