Rs 2,388 crore order book: Multibagger penny stock under Rs 20 in green after update on liquidation process of EMC Limited
The stock is up by 14.56 per cent from its 52-week low of Rs 11.61 per share and gave multibagger returns of over 1,000 per cent in 5 years.
Today, the Indian stock market was trading in the red, with the BSE Sensex and NSE Nifty indices plunging 0.46 per cent each, respectively. Though the market trading is in red, shares of Salasar Techno Engineering gained 2.15 per cent to Rs 13.30 per share from its intraday low of Rs 13.02 per share. The stock’s 52-week high is Rs 34.08 per share and its 52-week low is Rs 11.61 per share.
Salasar Techno Engineering Limited informed that the Hon’ble National Company Law Tribunal (NCLT), Kolkata, has passed an order for the closure of the liquidation process of EMC Limited, which has been sold as a going concern to Salasar Techno Engineering Limited. The company has received the certified true copy of the order passed by Hon’ble NCLT, Kolkata, on January 15, 2025.
Earlier, the company received approval to merge with its subsidiary, Hill View Infrabuild Limited. Hill View Infrabuild, involved in infrastructure development, will be absorbed into Salasar Techno, a listed company specializing in telecom, railway, and transmission towers. This merger, approved under the Companies Act, 2013, will simplify the group structure and enhance operational efficiency. Hill View Infrabuild shareholders will receive 2,87,430 equity shares and 8,358 preference shares of Salasar Techno for every 100 shares held.
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Established in 2006, Salasar Techno Engineering Limited (STEL) is a leading provider of customised steel infrastructure solutions in India. They offer a comprehensive range of services, including engineering, design, fabrication, galvanization and installation. STEL's product portfolio includes various towers (telecom, power transmission, lighting, etc.), substations, solar structures, railway electrification components, bridges and custom steel structures. Moreover, they act as an EPC contractor, managing complete projects for rural electrification, power lines and solar plants. As of September 30, 2024, STEL has a strong order book of Rs 2,388 crore.
According to Quarterly Results (Q2FY25), the revenue increased by 2.2 per cent to Rs 281.49 crore and net profit increased by 6.9 per cent to Rs 9.68 crore compared to Q2FY24 while in its half-yearly results (H1FY25), the net sales increased by 7.1 per cent to Rs 575.49 crore and net profit increased by 5 per cent to Rs 20.17 crore compared to H1FY24.
The stock is up by 14.56 per cent from its 52-week low of Rs 11.61 per share and gave multibagger returns of over 1,000 per cent in 5 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.