4:1 Bonus Issue: Small Cap Stock Under Rs 70 Hits 52-Week High, Soars 32% In 1-Week

Small cap company operating under the sector of industrial product Salasar Techno Engineering (STEL) shares hit 52-week high in trade today. Current market price of Salasar Techno share on BSE is Rs 68.02 apiece with intraday gain of 5.34%. Salasar Techno shares soared 32% in 1-week span and delivered multibagger returns of 504% in last 3-years. Earlier on December 20, 2023 Board of Salasar Techno recommended bonus share in the proportion of 4:1. The record date for the same is yet to be decided. Check details below:

Salasar Techno Shares Performance & Return Over Years: The stock's 52-week high price is quoted at Rs 68.33 apiece and 52-week low price is quoted at Rs 36.00 apiece, respectively. The company has a market capitalisation of Rs 2147.43 crore. Salasar Techno shares gained 36% in last 2-weeks-time, soared 42% in last 6-months, jumped 38% in last 1-year, rallied 188% in last 2-years, and offered shareholders return of 394% in last 5-years.

Salasar Techno Recommends Bonus Issue: According to the BSE filing of the company issued on December 20, 2023, "Recommended the issue of Bonus Shares in the proportion of 4:1 i.e. 4 (Four) new fully paid-up bonus equity share of Re 1/- each for every 1 existing fully paid up equity share of Re 1 each held by the Members of the Company as on the Record Date, subject to / shareholders and other statutory approvals."
Board of Salasar Techno is yet to determine the record date for 4:1 bonus issue.

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.