Multibagger stock of ₹50 secures order of ₹143 Cr, gains 100% in 6 months

The order strengthens its existing order book and will be executed in the next 24 months i.e. over FY23, FY24, and FY25 said the company. The order has been received for the procurement of material equipment, associated accessories and necessary installation services including design, erection, testing and commissioning of 33/11 KV substations and 33 KV, 11 KV, 400 V lines and distribution system networks in Dang, Rukum East and Baitadi Districts of Nepal., said Salasar Techno Engineering in a stock exchange filing.

Commenting on the order received Mr Shashank Agarwal form the Management team states: “We are very happy to announce this significant order win worth ~ Rs. 143 Crores from Nepal Electricity Authority which is First ever EPC order awarded to Salasar Techno Engineering Ltd by any Foreign Country. This order has enabled us to establish our presence in exports market and acts as a testimony of confidence placed by the foreign clients on STEL’s continuous efforts to design, supply, and execute the orders in time and while following the best in class industry standards. Further, this order win showcases our strength in executing large orders, developing products with cutting edge research & development and most importantly the approach of STEL towards achieving its ultimate mission of delivering innovative, cost-efficient and modern engineering solutions backed by agile service implementation teams. On the financial front, this order win strengthens our already robust order-book and is expected to yield good margins. We believe that this is just the start of an exciting phase in growth journey of STEL and with our expertise, domain knowledge and sophisticated manufacturing prowess we are rightly equipped to capitalize on the opportunity that lie ahead of us across geographies.”

On the NSE, the shares of Salasar Techno Engineering Limited closed on Friday at ₹50.20 apiece level, down by 3.18% from the previous close of ₹51.85. The stock recorded a total volume of 783,719 shares compared to the 20-Day average volume of 1,546,183 shares. The stock has produced a multibagger return of 262.45% over the past five years and an 800% multibagger return over the past three years. The stock has posted a multibagger return over the past year of 115.36%, but YTD, it has fallen 6.78% in 2023. The stock has gained 13.32% over the past month and achieved a multibagger return of 104.07% over the past six months. The stock touched a 52-week-high of ₹58.50 on (21-Dec-2022) and a 52-week-low of ₹20.71 on (15-Feb-2022), indicating that at the current market price, the stock is trading 14.18% below the 1-year high and 142.39% above the 1 year low.