Salasar Techno breaches upper circuit again
DSIJ Intelligence / 26 Jul 2017
Salasar Techno Engineering has locked in its upper circuit on its second trading session. The stock opened at Rs 275.6 per share, breaching its upper circuit on Wednesday.
Salasar Techno Engineering has locked in its upper circuit on its second trading session. The stock opened at Rs 275.6 per share, breaching its upper circuit on Wednesday. The stock was listed at a whopping 140% premium as against its issue price of Rs 108 per share on July 25. There are only buyers for the stock on the bourses. The stock got locked in its upper circuit of 5% at Rs 275.6 per share.
Salasar Techno Engineering has been admitted to dealings on the exchange in the list of ‘T’ group of securities. The total issue size was 33,21,000 shares. Total bids received stood at 90,67,92,375 shares, whereas total bids received at cut-off price stood at 4,51,42,750 shares. The company, which is into steel fabrication and infrastructure solutions, had received a huge response for its IPO, with the issue getting 273 times subscription.
The company reported revenue CAGR of 16% over FY13-17. The growth in gross profits, EBITDA and net profit for the period stood at 27%, 24.5% and 43.2% respectively.
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