India's Salzer Electronics at record high on plans to set up smart meter manufacturing plant

Salzer Electronics

22/02/2024 08:21

** Shares of Salzer Electronics  SALZ.NS  rise as much as
7.1% to a record high of 612.7 rupees
    ** The electrical component manufacturer says it will
establish smart meter manufacturing business in Coimbatore, in
India's southern state of Tamil Nadu
    ** The smart meter manufacturing plant to have annual
production capacity of 4 mln smart meters; to be hiked further
to 10 mln
    ** Stock hits record high at least seven times in February
and 12 times this year
    ** Stock has been above its 200-day simple moving avg since
May 2023, indicating bullish sentiment
    ** Trading vol is 4.3x the 30-day daily avg, tops 800,00 for
the first time since Aug 17, 2023
    ** Stock rose 64.8% in 2023, gaining most in a year since
its listing in 2015



 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))