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Multibagger Stock Under Rs 20: Salasar Techno shares hit UPPER CIRCUIT

The counter outperformed the sector by 4.41 per cent. The stock has been gaining for the last two days and has risen 5.27 per cent returns in the period.

Paras Bisht

Updated Jul 2, 2024, 13:29 IST

Multibagger Stock Under Rs 20: Salasar Techno shares hit UPPER CIRCUIT. Image: Canva

Salasar Techno Engineering share price surged nearly 5 per cent in early trade in Tuesday's trading session to hit the upper circuit amid broader market rally. The counter hit the upper price band at day's high of Rs 19.10 per share on the National Stock Exchange (NSE).

The counter outperformed the sector by 4.41 per cent. The stock has been gaining for the last two days and has risen 5.27 per cent returns in the period. It is trading higher than 5 day and 200 day moving averages but lower than 20 day, 50 day and 100 day moving averages.

Established in 2006 as a tower manufacturer, Salasar Engineering Limited, has emerged as a fast-growing Steel structure manufacturer & EPC infrastructure company, providing services across telecom, energy and railways sector.

According to the data available on the Bombay Stock Exchange (BSE) Analytics, the counter has delivered multibagger returns of 237.92 per cent in the last two years. It moved higher by 1020.47 per cent as per in the last five years, as per BSE data.

Corporate Action

In February this year, the company distributed bonus in the ratio 4:1 to its shareholders. Prior to that in September 2023, it distributed final dividend.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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