Salasar Techno stock ends higher on stock split plan

19 Apr 2022 , 03:39 PM

Shares of Salasar Techno Engineering Ltd. were up on the BSE in Tuesday’s intra-day trade, in an otherwise neutral and volatile market. The stock has hit the high of Rs279 in its early trade on Tuesday, after the company said the board will meet on April 30, 2022 to consider stock split proposal.

“A meeting of the board of directors of the Company will be held on April, 30, 2022, to consider a proposal for sub-division of the equity shares of the Company having a face value of Rs10 each, in such manner as may be determined by the board of directors, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company,” Salasar Techno Engineering Ltd said in an exchange filing.

The stock ended at Rs264 up by Rs4.4 or 1.69% from its previous closing of Rs259.60 on the BSE. The scrip opened at Rs279 and has touched a high and low of Rs279 and Rs262.80 respectively.

Salasar Techno Engineering Ltd shares have outperformed the market in the recent past with wide margin. In the past one month, the stock has rallied 15 per cent as compared to a 1.38 percent decline in the S&P BSE Sensex.

Moreover, over the past one year, it has surged 19 per cent as against 17.88 percent rise in the benchmark index. It had hit a record high of Rs 370.75 on July 13, 2021.