Stock Market Today: Small-cap penny Salasar Techno Engineering gained up to 5% in morning trades on Tuesday after the amalgamation move.
The Board of Directors of Salasar Techno Engineering Limited , at its meeting held on December 30, 2024, has considered and approved the proposed Scheme of Amalgamation of Hill View Infrabuild Limited with Salasar Techno Engineering Limited
The Salasar Techno Engineering share price opened at ₹14.50 on the BSE on Tuesday, almost 5 higher than the previous closing price of ₹13.81. The Salasar Techno Engineering share price thereafter traded between highs of ₹14.50 and lows of ₹13.86 during the intraday trades.
The Salasar Techno Engineering share price gains though have been limited duirng last one month, having risen around 6% in last one month , howver the stock is up 1120% in last 5 years having given Multibagger returns to the investors.
Salasar Techno Engineering in its release on the exchanges giving details of Amalgamation proposal said that “There is a proposal for Amalgamation of Hill View Infrabuild Limited (Transferor Company) with Salasar Techno Engineering Limited (Transferee Company), the transaction is proposed to be implemented through a Scheme of Amalgamation ”)
The Transferor Company- Hill View Infrabuild Limited is an unlisted public Company and the Transferee Company- Salasar Techno Engineering Limited is listed at BSE and NSE.
Hill View Infrabuild Limited, the Transferor Company was incorporated to carry on infrastructure development and related activities. The Company has made investments in the Transferee Company-Salasar Techno Engineering Limited. The Transferor Company is also acting as an incubator for various projects which the Transferee Company is undertaking through Special Project Vehicles by providing critical financial support to these SPVs.
Salasar Techno Engineering Limited, the Transferee Company has been engaged in manufacturing of telecom towers, railway towers, transmission and distribution towers and other related activities. With passage of time, Salasar Techno has diversified its business into other fields like manufacturing of steel bridges and other structures for infrastructure projects, undertaking electrification projects for railways, etc., either directly or through SPVs
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