Multibagger Stock: This company to consider bonus shares soon - Check details

Multibagger Stock: Stocks of construction engineering firm Salasar Techno Engineering has delivered a whopping return to its shareholders in the last three years. The small-cap company is now considering giving bonus shares to its shareholders.

According to an exchange filing, the board of directors of the company will consider and recommend a proposal for the declaration of bonus shares. A meeting in this regard is scheduled to take place on December 20.

"The meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 20th day of December, 2023 ...to consider and recommend a proposal of declaration of Bonus Shares to the Shareholders of the Company subject to requisite approvals," the company informed exchanges. 

The board will also consider increasing the authorized share capital of the company and consequent amendments in Memorandum and Articles of Association of the Company, if any.

Meanwhile, the trading window for dealing in securities of Salasar Techno Engineering has been closed. The trading will begin 48 hours after the declaration of the outcome of the board meeting.

"The trading window for dealing in securities of the Company have been closed from Saturday, December 16, 2023 till the expiry of 48 hours after the declaration of outcome of Board meeting proposed to be held on 20.12.2023, inter alia, to consider and approve Proposal for Declaration of Bonus Issue," the company said

Earlier this month, Salasar Techno Engineering Ltd (STEL), a provider of customized steel fabrication & infrastructure solutions, secured a Rs 364 crore power infrastructure project in Tamil Nadu.

The work order has been awarded by Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) - an electrical power generation and distribution public sector undertaking owned by the Government of Tamil Nadu.