During Thursday’s trading session, the shares of a company in the business of large-scale civil constructions surged nearly 4.6 percent to Rs. 31 on NSE, after a domestic institutional investor (DII) bought stake worth a total of nearly Rs. 2 crores on NSE via a bulk deal.
With a market capitalisation of Rs. 307.8 crores, at 03:05 p.m., the shares of Salasar Exteriors and Contour Limited were in the green at Rs. 29.9, up by 0.84 percent, as against its previous closing price of Rs. 29.65.
What’s the News:
As per the bulk deal data from 9th October available on the NSE, the domestic investor ACME Ferro Alloys Private Limited bought nearly 6.56 lakh equity shares, equating to a 0.6 percent stake, in Salasar Exteriors and Contour for approximately Rs. 1.99 crores, at an average price of Rs. 30.35.
Previous News:
On 3rd October, Salasar Exteriors and Contour Limited announced venturing into the agricultural industry as part of its strategic vision for expansion and diversification.
According to the latest regulatory filings with the NSE, the company will focus on AgriTech Solutions, Agri Waste Management, and Agri Exports as it enters the agricultural sector.
With AgriTech Solutions, the company aims to enhance agricultural productivity through technology. In addition, its Agri Waste Management initiative will promote sustainable farming practices, while Agri Exports will enable the company to tap into international markets to expand its revenue streams.
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These initiatives align with the company’s long-term strategy to diversify its business portfolio and enhance shareholder value.
Further, the company also announced clearing all its outstanding debts and is now a zero-debt entity.
Additionally, management expects a highly profitable quarter in the upcoming financial period, driven by these strategic initiatives and enhancements in operational efficiency.
Financials:
The company reported a decrease in the revenue from operations, experiencing a year-on-year decline of nearly 52.4 percent, falling from Rs. 0.63 crores in FY23 to Rs. 0.3 crores in FY24.
Similarly, during the same period, the company’s net profit decreased from Rs. 0.81 crores to Rs. 0.06 crores, representing a decline of around 90.5 percent YoY.
About the Company:
Salasar Exteriors and Contour Limited is mainly engaged in the business of trading in real estate properties by way of acquiring interests in various real estate projects such as flats & land, as well as trading in building materials in Mumbai.
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Written by Shivani Singh
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