Rs 24,019 million order book & FIIs increase stake: Multibagger penny stock under Rs 25 rockets 9 per cent with volume surge!

Rs 24,019 million order book & FIIs increase stake: Multibagger penny stock under Rs 25 rockets 9 per cent with volume surge!

Kiran Shroff

The stock gave multibagger retunes of 163 per cent from its 52-week low of Rs 8.71 and a whopping 1,700 per cent in 5 years.

On Monday, shares of Salasar Techno Engineering Limited (STEL) gained 9.21 per cent to an intraday high of Rs 22.88 per share from its previous closing of Rs 20.95 per share. At the closing bell, the company's shares were trading at Rs 22.77 per share, up 8.69 per cent and saw a spurt in volume by more than 1.40 times on BSE. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces. 

Established in 2006, Salasar Techno Engineering Limited (STEL) is a leading provider of customized 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 June 30, 2024, STEL has a strong order book of Rs 24,019 million.

According to Quarterly Results (Q1FY25), the total income increased by 12.41 per cent to Rs 294.90 crore and net profit increased by 3.35 per cent to Rs 10.49 crore compared to Q1FY24 while in its annual results (FY24), the net sales increased by 20.3 per cent to Rs 1,208,43 crore and net profit increased by 31.5 per cent to Rs 52.93 crore compared to FY23.

DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.

STEL's strategic acquisitions, such as EMC Limited, and additional funding from Coeus Global Opportunities Fund, have strengthened its market position. Furthermore, significant project wins, including a Rs 1,033.78 crore contract from Tamil Nadu Generation and Distribution Corporation Limited and a Rs 173.99 crore contract in partnership with Rail Vikas Nigam Ltd for Madhya Pradesh Power Transmission Company Limited, demonstrate STEL's growth trajectory.

FIIs bought a 5.42 per cent stake in the company in Q1FY25 and increased to 8.42 per cent compared to 3 per cent in Q4FY24. The company issued bonus shares in a 4:1 ratio to its shareholders on February 1, 2024 (ex-date). This means that for every one share a shareholder held, they received four additional shares. The stock gave multibagger retunes of 163 per cent from its 52-week low of Rs 8.71 and a whopping 1,700 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. 

Also Read: Defence company bags new order worth Rs 4.20 crore from Economic Explosives Ltd & DRDO & lowest bidder (L1) for an order worth Rs 72.26 crore from Munitions India Ltd

Previous Article 5,200 per cent returns: Multibagger FMCG stock gains over 10 per cent today; Recently company acquired single largest stake in Virat Kohli–backed RAGE COFFEE
Next Article Penny Stock Under Rs 20: Multibagger Microcap Company Bags Order Worth Rs 25 Million – Rs 1 Lakh Turned Rs 11.50 Lakh in Just 2 Years!
Rate this article:
3.6

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR