Rs 2,388 crore order book: Multibagger penny stock under Rs 20 jumps 7 per cent with volume spurt on January 14
The stock is up by 8 per cent from its 52-week low of Rs 11.61 per share and gave multibagger returns of 975 per cent in 5 years.
Today, the Indian stock market was trading in the green, with the BSE Sensex and NSE Nifty indices gaining 0.60 per cent each, respectively. Along with the market trading in the green, shares of Salasar Techno Engineering gained 7 per cent to Rs 12.54 per share from its previous closing of Rs 11.72 per share with 9 lakh shares changed hands on BSE. The stock’s 52-week high is Rs 34.08 per share and its 52-week low is Rs 11.67 per share.
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.
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Salasar Techno Engineering Limited has received approval for the amalgamation of Hill View Infrabuild Limited, an unlisted public company involved in infrastructure development and acting as an incubator for Salasar Techno's projects, under the Companies Act, 2013. Salasar Techno, a listed company engaged in manufacturing telecom, railway, and transmission towers with diversification into steel bridges and railway electrification, will achieve this amalgamation through a share exchange, issuing 287,430 equity shares and 8,358 preference shares for every 100 equity shares held in Hill View Infrabuild. This related-party transaction, proposed at arm's length, aims to consolidate Group Companies, simplify shareholding, and optimize resource utilization and cost efficiency.
The company issued bonus shares in a 4:1 ratio to its shareholders on February 1, 2024 (ex-date). This means that for every share a shareholder held, they received four additional shares. The stock is up by 8 per cent from its 52-week low of Rs 11.61 per share and gave multibagger returns of 975 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.