Good news for the investors of a small company called Salasar Techno Engineering Ltd! The company has decided to give extra shares, called bonus shares, to the people who own its shares.
This is great because for every one share you have, the company will give you four more shares for free. So, if you have one share, you’ll get a total of five!
The company, which makes towers, saw its share price go up by 9.51% on Thursday, reaching Rs 65.40.
This is the highest price the shares have been in the past 52 weeks.
Here are some more details: Salasar Techno Electric Limited, the company that provides infrastructure services, decided to give these bonus shares in a meeting on Wednesday.
They will give four free shares for every existing share you have. The exact date when they will decide who gets these bonus shares hasn’t been decided yet, but it will be done soon.
To make this happen, the company needs ₹126 crore. They plan to credit these bonus shares to the investors within two months from the date of the meeting.
Now, let’s talk about the company’s stock. It has been doing really well in the last few years.
In the past three years, the stock has given a huge return of 408%, and in the last five years, it’s been 314%! So far in 2023, it has gone up by 19%.
The company started in the stock market in 2017 with an IPO, and it was very popular, being subscribed 273.05 times!
Remember, the company’s shares started at Rs 36, and now it’s at its highest at Rs 65.40.
The total value of the company’s shares in the market is Rs 2,012.62 crore. That’s a lot of growth!
