Salasar Techno provides customized steel structures and 360-degree EPC solutions to diverse range of industries including telecom, power, railways and more.
Share Market News: Salasar Techno Engineering Ltd shares surged during the trading session on Friday to reach a new 52-week high as the company announced the record date for the bonus shares. The information was communicated via the exchange filing on Wednesday.
The company in the exchange filing said that the board of directors in their meeting held on 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.
“It means that the company will issue four new fully paid-up bonus equity share of Re 1 each for every one existing fully paid-up equity share of Re 1 each held on record date subject to the approval of shareholders is being obtained through the postal ballot notice dated December 20, 2023,” it added.
The shares of Salasar Techno Engineering surged 6.3 per cent on Friday to Rs 74.95, hitting its new 52-week high after the announcement. The rise in the share has commanded a total market capitalization of close to Rs 2,400 crore.
The scrip had settled at Rs 70.49 in the previous trading session on Monday.
Salasar Techno Engineering Ltd: Key Details Here
- Salasar Techno Engineering Ltd is a Noida-based company
- Salasar Techno Engineering Ltd had announced to issue bonus shares in December 2023.
- The company board also considered increasing the Authorized Share Capital of the company and consequent amendments in Memorandum and Articles of Association of the company.
- Salasar Techno Engineering Ltd was incorporated in 2006
- Salasar Techno Engineering is engaged in manufacturing of large & heavy steel structures
- The company provides customized steel structures and 360-degree EPC solutions to diverse range of industries including telecom, power, railways and more.