4:1 Bonus Share, 9 Dividends: Multibagger Penny Stock Gives Acquisition Update

Small cap company engaged in Industrial Products industry, Salasar Techno Engineering (STEL) issued an update on the acquisition of EMC Limited on May 7, 2024. Current market price of Salasar Techno Engineering share on BSE is Rs 19.94 per share with intraday jump of 1.37%. The company has a market capitalisation of Rs 3,147.58 crore. Salasar Techno Engineering share gave return of 116% in last 6-months and declined 38% in last 3-months. More details below:

Salasar Techno Engineering Issues Update On EMC Ltd Acquisition: As per the BSE filing of the company dated May 7, "In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to our previous intimation dated March 16, 2024 and March 19, 2024, we wish to inform that the Salasar Techno Engineering Limited ('the Company') has successfully completed the payment of the remaining balance amounting to Rs. 168,00,00,000/- (Rupees One Hundred Sixty-Eight Crores Only) for acquisition of EMC Ltd. (Formerly known as Electrical Manufacturing Company Limited)."

Salasar Techno Engineering Share Performance: The 52-week high price of Salasar Techno Engineering share on BSE is Rs 34.08 per share (as on 07/02/2024) and 52-week low price is Rs 8.33 per share (as on 19/05/2023), respectively. Salasar Techno Engineering shares declined 11% in last 1-month, soared 134% in last 1-year, and gained 264% in last 2-year. Salasar Techno Engineering stock witnessed a rally of 906% in last 5-years.

Salasar Stock Split History: Salasar Techno Engineering split face value of its share once since June 27, 2022. Salasar Techno Engineering last split the face value of its shares from Rs 10 to Re 1 in 2022.The share quoted ex-split from June 27, 2022.

Salasar Techno Bonus Issue: Earlier, Board of Directors in their meeting held on January 18, 2024 fixed Thursday, February 1, 2024 as the Record Date for bonus shares in the ratio of 4:1.

Salasar Techno Dividend History: Salasar Techno Engineering announced 9 dividends since November 23, 2017. In the past 12 months, Salasar Techno Engineering announced an equity dividend amounting to Re 0.10 per share. At the current share price of Rs 19.94, Salasar Techno Engineering's dividend yield is 0.10%. Adjusting for Bonus/Splits, dividend yield is 0.09%, according to Trendlyne.

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 acquisition 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.