Salasar Techno Engineering Ltd (STEL) shares on Tuesday soared 6 percent to trade near its 52-week high levels after the company announced the commissioning of its new zinc galvanisation facility at the Hapur plant in Uttar Pradesh.

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Salasar Techno Engineering shares jumped 6 percent to touch a high of Rs 54.19 on BSE, trading below its 52-week high of Rs 58.66 hit on August 30, 2023.

The company in a filing informed bourses that the new facility at Unit III of the plant commenced operations on September 25.

Zinc galvanisation is the process of applying protective zinc coating to steel or iron steel to prevent rusting.

The Hapur facility has an annual capacity of 96,000 tonnes, the company informed the bourses.

The engineering and industrial equipment manufacturer said that the new galvanisation plant will play a significant role in meeting the growing demand for high-quality galvanised products in various industries, especially for transmission line monopoles and large size structures.

Such large size structures are used in automotive, infrastructure, construction and other sectors.

STEL also said that the new facility is equipped with advanced galvanization technology to ensure the highest quality of products.

The new plant will help the company expand its portfolio of services and strengthen its position in the industry, according to STEL Joint Managing Director Shashank Agarwal.

STEL is a provider of customized steel fabrication and infrastructure solutions. It provides solutions by carrying out engineering, designing, fabrication, galvanisation and deployment.

Its product portfolio includes telecommunication towers, power transmission line towers, smart lighting poles, utility poles, high mast poles, stadium lighting poles, monopoles, railway electrification and customised galvanised and non-galvanised steel structures.

Shares of Salasar Techno Engineering were trading 3.35 percent higher at Rs 52.80 apiece on BSE at 9.47 AM.

First Published:Sept 26, 2023 12:01 PM IST