4:1 Bonus Issue In 2024, 9 Dividend Since 2017: Multibagger Penny Stock Bags Rs 2K Mn Order

Small cap company from Industrial Products industry, Salasar Techno Engineering (STEL) shares on February 28, 2024 hit 5% upper circuit after it received new order worth over Rs 2000 million from ZETWERK Business Private Limited. Current market price of Salasar Techno Engineering stock on BSE is Rs 25.46 apiece with intraday fall of 3.08%. Salasar Techno Engineering shares erased gains it witnessed in early morning trade. Salasar Techno Engineering shares rallied 155% in last 3-months. Check details below:

Salasar Techno Engineering Bags New Order: As per the regulatory filing of the company dated Feb 28, 2024, "Salasar, a prominent playerin the field of providing engineering and infrastructure solutions, has entered into an agreement with M/s ZETWERK Businesses Pvt Ltd for supply of 25,000 MT of Solar Structures. This significant agreement, valued at over Rs. 2,000 Mn, entails Salasar to supply the specified quantity to ZETWORK or its affiliates for subsequent export."

Commenting on the above status, the management team of Salasar said, "We are pleased to announce that we have entered into a strategic partnership with M/s ZETWERK Businesses Pvt Ltd for the supply of 25,000 MT of Solar Structures for subsequent export, underscoring our commitment towards advancing into providing sustainable solutions. This not only broadens the scope of our operations but also reflects our dedication to contributing to the global push for renewable energy."

Salasar Techno Shares Outlook & Return: The 52-week high price of Salasar Techno is quoted at Rs 34.08 apiece and 52-week low price is quoted at Rs 7.20 apiece, respectively. Salasar Techno has a market capitalisation of Rs 4018.93 crore. Salasar Techno shares gave return of 93% year-to-date (YTD), zoomed 155% in last 3-months, gave return of 205% in last 1-year, and offered surge of 396% in last 2-years.

Salasar Techno Approved Fund Raising: As per the exchange filing of the company dated January 25, 2024, "Board of Directors of the Company in their meeting held on today i.e. Thursday, January 25, 2024 considered and approved fund raising of Rs 8,064 million to accelerate the business growth further and to augment the long-term financial resources of the Company, fund raising by issuing the following securities, subject to approval of shareholders and other regulatory authorities, as may be applicable in accordance with the provisions of Section 42 and Section 62(1)(c) of the Companies Act, 2013, as amended ("Act") read with Companies (Prospectus and Allotment of Securities) Rules, 2014, and Companies (Share Capital and Debentures) Rules, 2014 as amended ("Rules"), Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations") and other applicable laws, regulations, guidelines and rules."

Salasar Techno Bonus Issue: As per the exchange filing of Salasar Techno dated Jan 18, "Board of directors in their meeting held today dated January 18, 2024 has fixed Thursday, February 1, 2024 as the Record Date for the purpose of ascertaining the eligibility of shareholders for entitlement of bonus shares in the ratio of 4:1 i.e. 4 (Four) new fully paid-up bonus equity share of Rs.1/- (Rupees One only) each for every 1 (One) existing fully paid-up equity share of Rs.1/- (Rupees One only) held on Record Date subject to the approval of shareholders is being obtained through the postal ballot notice dated December 20, 2023, last date for the remote e-voting of postal ballot will be Saturday, January 20, 2024 (05:00 P.M.)."

Salasar Techno Dividend: Salasar Techno Engineering announced 9 dividends since November 23, 2017. In the past 12 months, Salasar Techno Engineering Ltd. has declared an equity dividend amounting to Re 0.10 per share. At the current share price of Rs 25.46, Salasar Techno Engineering's dividend yield is 0.39%. Adjusting for Bonus/Splits, dividend yield is 0.08%.

Salasar Techno About: Incorporated in 2006, Salasar Techno is a provider of customized steel fabrication & infrastructure solutions in India. It provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment. Salasar Techno's product portfolio includes telecommunication towers, power transmission line towers, smart lighting poles, utility poles, high mast poles, stadium lighting poles, monopoles, substation structures, solar module mounting structures, railway electrification (OHE), Road & Railway Over-Bridges (ROB) and customised galvanized & non-galvanized steel structures.

Disclaimer:

The stock just highlights shares rally in trade today and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.