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Business News/ Markets / Stock Markets/  Salasar Tehno to consider issuance of bonus shares this week. Share jumps 8%
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Salasar Tehno to consider issuance of bonus shares this week. Share jumps 8%

Bonus shares 2023: Salasar Techno Engineering Ltd has informed Indian bourses that its board of directors would consider and approve proposal for issuance of bonus shares in its meeting scheduled on 20th December 2023

Salasar Techno bonus shares: Earlier, this telecom infra company traded ex-bonus on 13th July 2021 for issuance of bonus shares in 1:1 ratio. (Photo: iStock)Premium
Salasar Techno bonus shares: Earlier, this telecom infra company traded ex-bonus on 13th July 2021 for issuance of bonus shares in 1:1 ratio. (Photo: iStock)

Bonus shares 2023: The board of directors of Salasar Techno Engineering Ltd is soon going to consider issuance of bonus shares to its eligible shareholders. The telecom infra company has informed Indian stock market bourses that its board of directors will consider and approve proposal for bonus shares in its meeting scheduled on 20th December 2023 i.e. on Wednesday this week.

Salasar Techno bonus shares 2023 details

While sharing the board meeting update with stock market exchanges, Salasar Techno Engineering Ltd said, "Pursuant to Regulation 29 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and other applicable provisions, if any, Notice is hereby given that the meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 20th day of December, 2023 at 12:30 P.M. at its office situated at Plot No. B-8, 913-916, 9 th Floor, Tower-B, Noida One, Sector-62, Noida, UP-201301, inter alia to consider and recommend a proposal of declaration of Bonus Shares to the Shareholders of the Company subject to requisite approvals."

Also Read: Zee shares fall over 4% after it seeks time on Sony merger deal

In its board meetint scheduled on 20th December 2023, the company borad will also consider to increase the Authorized Share Capital of the Company and consequent amendments in Memorandum and Articles of Association of the Company.

Salasar Techno shares jump

After the outbreak of this stock market news, Salasar Techno shares witnessed strong buying interest during morning deals on Monday. Salasar Techno bonus share price today opened upside and went on to hit intraday high of 56.10 apiece on NSE within few minutes of stock market's opening bell today. In this gap up opening, Salasar Techno shares surged to the tune of over 8 per cent against its Friday close of 51.75 per share on NSE.

While climbing to its intraday high, the telecom infra stock came close to its life-time high of 58.75 per share levels.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 18

Salasar Techno bonus history

As per the information available on BSE website, this would be the second bonus share announcement by the telecom infra company, if its board of directors approve bonus share proposal. On 13th July 2021, Salasar Techno Engineering shares had traded ex-bonus for issuance of 1:1 bonus shares to its eligible shareholders.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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ABOUT THE AUTHOR
Asit Manohar
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Published: 18 Dec 2023, 09:55 AM IST
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