4:1 Bonus Issue: Rs 30 Smallcap Stock To Give 4 New Bonus Shares On 1; Stock At 5% Upper Circuit Before Q3

Salasar Techno Engineering a smallcap stock trading near Rs 30, is in focus this week due to its upcoming Q3 results and bonus shares. On Friday, Salasar froze at its 5% upper circuits and touched a new 52-week high. There were several buyers in the stock today with no sellers. The stock has given triple-digit returns in a year.

Salasar Techno Engineering Share Price:

On BSE, Salasar Techno Engineering's share price locked at Rs 29.45 apiece, up by 4.99% with a market cap of Rs 4,648.76 crore. This is also its new record high of Rs 29.45 apiece.

From its 52-week low of Rs 7.20 apiece, Salasar Techno is trading higher by more than 309%.

In a month, the stock has gained by nearly 118%, while in six months, the surge is nearly 199% as of now. Year-to-date, the upside is nearly 121%. In a year, the stock soared by 224%.

Salasar Techno Engineering Bonus Issue:

As per the regulatory filing, Salasar Techno Engineering announced that the board of directors in a meeting on February 3rd, will consider and approve the allotment of Bonus Shares to all the eligible shareholders, who hold shares on the already intimated Record Date i.e. 1st February, 2024.

That being said, the stock turned ex-bonus on February 1, 2024. Hence, only those investors who hold shares of Salasar Techno by the end of February 1, will be eligible for the bonus issue.

The ratio of 4:1 means that Salasar Techno will issue 4 new bonus shares for every 1 existing equity share.

Salasar Techno Engineering Q3:

On February 3, the company is scheduled to declare its Q3 results for FY24.

During the second quarter of FY24, the company reported revenue from operations of Rs 275.35 crore, registering a growth of 6.42% YoY. While its EBITDA stood at Rs 24.92 crore in Q3FY24, up by 18.63% YoY. Further, EBITDA margin expanded to 9.05%. PAT was at Rs 9.05 crore, recording an upside of 20.50% YoY.

Incorporated in 2006, STEL 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. STEL'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.

STEL's services include providing complete Engineering, Procurement & Control (EPC) for projects such as rural electrification, power transmission lines and solar power plants. STEL is among the leading manufacturers with the current installed capacity of 2,11,000 MTPA having supplied, 50,000+ Telecom Towers, ~746 km of Power Transmission Lines, and ~629 km of Railway Track, to 600+ clients in 25+ Countries.