back-office Open An Account
partner-with-us Partner with Us
Corporate Actions
Salasar Tech-RVNL JV bags contract worth Rs 60 cr

28-Mar-24   15:39 Hrs IST
The scope of work includes plant design, supply & installation of 45.8 km, 110 KV double circuit Rukarara-Huye-Gisagara transmission lines.

Salasar Techno Engineering holds 51% stake in the joint venture company and the remaining 49% share will be held by Rail Vikas Nigam (RVNL).

The project is to be completed in 18 months and the cost of the project is $7.152 million which is equivalent to Rs 59.62 crore.

Salasar Techno Engineering is a provider of customized steel fabrication and infrastructure solutions in India. It provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment.

Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.

Shares of Salasar technologies fell 0.35% to end at Rs 20.01 while RVNL closed 1.15% lower at Rs 252.95 on the BSE.

Powered by Capital Market - Live News

Attention Investors: Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020. || Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge. || Pay 20% upfront margin of the transaction value to trade in cash market segment. || Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard. || Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.|| KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.|| No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.