Today's stock market: penny small-cap Following this merger action, Salasar Techno Engineering saw a 5% increase in early trading on Tuesday. Details are available here.
Today's stock market: penny small-cap Following the merging decision, Salasar Techno Engineering saw a 5% increase in early trading on Tuesday.At its meeting on December 30, 2024, the Salasar Techno Engineering Limited Board of Directors reviewed and approved the proposed plan to merge Hill View Infrabuild Limited with Salasar Techno Engineering Limited.
Tuesday's opening price of ₹14.50 for Salasar Techno Engineering shares on the BSE was about 5% higher than the closing price of ₹13.81. During intraday trading, the price of Salasar Techno Engineering's shares then fluctuated between highs of ₹14.50 and lows of ₹13.86.
Although the Salasar Techno Engineering share price has only increased by about 6% in the past month, it has increased by 1120% over the previous five years, providing investors with multibagger returns.
"There is a proposal for the amalgamation of Hill View Infrabuild Limited (Transferor Company) with Salasar Techno Engineering Limited (Transferee Company), and the transaction is proposed to be implemented through a Scheme of Amalgamation," stated Salasar Techno Engineering in its release on the exchanges providing details of the amalgamation proposal.
Salasar Techno Engineering Limited, the transferee, is listed on the BSE and NSE, while Hill View Infrabuild Limited, the transferor, is an unlisted public company.
The Transferor Company, Hill View Infrabuild Limited, was established to engage in infrastructure development and associated operations. Salasar Techno Engineering Limited, the transferee company, has received investments from the company. By giving these Special Project Vehicles (SPVs) vital financial support, the Transferor Company also serves as an incubator for the many initiatives that the Transferee Company is working on.
The transferee company, Salasar Techno Engineering Limited, has been involved in the production of transmission and distribution towers, telecom towers, and railway towers, among other related activities. Over time, Salasar Techno has expanded its operations into other areas, including as producing steel bridges and other infrastructure-related structures, working directly or through SPVs to electrify railroads, etc.
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