Salasar Techno hits highest level since listing;up 238% against issue price

The stock rallied 8% to Rs 365 on the BSE in intra-day trade, surging 238% against issue price of Rs 108 per share.

Shares of Salasar Techno Engineering rose by 8% to Rs 365 on the BSE, its highest level since listing on July 25, 2017. The stock appreciated 238% against its issue price of Rs 108 per share.

Salasar Techno Engineering is into manufacturing, fabrication and installation of telecom towers, transmission towers & substation structures and solar mounting structures.

For the first nine months (April-December) of current financial year 2018 (FY18), the company had reported a strong 74% year on year (YoY) growth in net profit at Rs 202 million against Rs 116 million during the same period of FY17.