Salzer up 5% on distribution agreement with IPD Group
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Shares of Salzer Electronics gained 5.3 percent intraday Tuesday as it has signed distribution agreement with IPD Group of Australia. Under the agreement, IPD Group will market and sell Salzer’s branded electrical products for solar photovoltaic applications in Australia and Newzeland. Salzer manufactures DS Isolators ranging from 6 Amps to 40 Amps that can be used for 1000 VDC application in various indoor and outdoor mountings. The company had registered net profit of Rs 3.45 crore in quarter ended December 2015 against Rs 2.20 in the same quarter last fiscal. At 12:09 hrs Salzer Electronics was quoting at Rs 186, up Rs 6.20, or 3.45 percent on the BSE.
Source:Moneycontrol
