4 Bonus Shares For Every 1: Small Cap Stock Rallies 180% In 2-Yrs, Record Date Set

Small Cap company from the sector of industrial product, Salasar Techno Engineering (STEL) shares gained 5.54% in trade today on BSE. Last trading price of Salasar Techno Engineering shares on BSE is Rs 70.49 apiece. Salasar Techno Engineering shares offered shareholders return of 180% in last 2-years.

Salasar Techno Engineering today fixed February 1, 2024 as the record date for 4:1 bonus issue implying shareholders will be eligible to receive four bonus shares for every 1 share held.

Salasar Techno Shares Outlook & Return Over Years: The stock's 52-week high price is quoted at Rs 74.74 apiece and 52-week low price is quoted at Rs 36.00 apiece, respectively. The company has a market capitalisation of Rs 2225.41 crore. Salasar Techno stock witnessed a decline of 4% in last 2-weeks. Salasar Techno shares surged 42% in last 3-months, soared 35% in last 1-year, jumped 180% in last 2-years, and gained 428% in last 3-years. Salasar Techno shares offered shareholders return of 395% in last 5-years.

Salasar Techno Sets Record Date For Bonus Issue: According to the BSE filing of the company issued on January 18, 2024, "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 Financials: The company for the quarter ended September 2023 declared a surge of 21% year-on-year (YoY) in its net profit to Rs 9.05 crore as against the net profit of Rs 7.51 crore in the corresponding quarter of last year. Its net profit was declared at Rs 11.05 crore in the June 2023 quarter. Meanwhile, the company announced a jump of over 6% YoY in its revenue from operations to Rs 275.35 crore for the 2nd quarter of the current fiscal year as against Rs 258.78 crore in the corresponding quarter of the year-ago period.

Salasar Techno About: It is an Indian Infrastructure company that provides customised steel fabrication and EPC solutions to the global market. In the year 2006, Salasar started out as a tower manufacturer. Tower manufacturers rarely provided multiple solutions under one roof. Salasar sought to fill this gap by aspiring to become a one-stop shop for India's telecom giants by carrying out engineering, designing, procurement, fabrication, galvanization and EPC under one roof. It has expanded its range of products and services to encompass all the infrastructural needs of a rapidly developing nation, according to its official website.

Disclaimer: The stock just highlights the rally in shares on recommending bonus issue 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.