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Multibagger stock for 2022: Despite global economy reeling under the heat of Covid-19 pandemic, Indian stock market manged to give stellar return to its investors in 2021. A good number of shares including penny stocks, delivered multibagger return to its shareholders. After ushering into New Year 2022, secondary market investors in India want to repeat that performance of their stock portfolio and hence they are looking for potential multibagger stocks for 2022 and multibagger penny stocks 2022. For such stock market investors, there is a piece of good news for them. According to market experts, Salasar Techno Engineering Ltd shares are showcasing potential to double shareholders' money in 2022. They are of the opinion that Salasar Techno shares may go up to 500 apiece levels by the end of this year.

Speaking on the fundamentals that may fuel Salasar Techno share price rally in 2022; Anuj Gupta, Vice President at IIFL Securities said, "Salasar Techno Engineering Ltd is a telecom infrastructure company. The Company offers engineering, procurement and control services for electrification, power transmission lines, and solar power plants. In the wake of 5G roll out in India, market is expecting strong numbers from the company in upcoming quarters in long-term. So, the market is highly bullish on the counter from this fundamental perspective as it is a rare company in tower manufacturing that provides one-stop shop for India’s telecom giants by carrying out engineering, designing, procurement, fabrication, galvanization and EPC under one roof."

Advising fresh investors to wait for some time as profit-booking is expected in the counter; Manoj Dalmia, Founder & Director at Proficient Equities Private Limited said, "One can wait for a consolidation or base formation at 210 to 240 levels, which can be a good place to buy. We can expect good moves if this happens, the short term target can be 291." He said that the stock has been appreciating after giving breakout at 212 apiece levels and hence it's better to wait for profit-booking and then enter in the range of 210 to 240 levels.

Salsar Techno share price today is 257.80 per share on NSE and it has appreciated more than 10 per cent in last one month after surging from around 233 to 257.80 levels.

Advising stock market investors to buy this stock for long term, Anuj Gupta of IIFL Securities said, "On technical chart pattern, the stock is facing resistance at 3502 levels. Once it manages to break this hurdle in medium term, it may go up to 450 to 500 apiece levels by end of this year. However, one should enter at around 220 levels as there can be some profit-booking taking place in the telecom infra counter."

Some more info about Salsar Techno shares

Current market capitalization of Salsar Techno shares is 738 crore. Currently, trade volume of the small-cap share is 1,10,704, which is lower from its 20 days average volume of 1,77,774. Salsar Techno shares' current P/E ratio is around 21.77, which is much lower from its sector P/E ratio of 48.78.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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