Salasar Techno Engineering Ltd witnessed a robust surge of nearly 10 percent in Monday’s trading session, with investor anticipation building ahead of the company’s upcoming board meeting later this week. The engineering firm officially communicated news of the proposed meeting through a filing with the stock exchange on Saturday.
The board of directors at Salasar Techno is set to convene on Wednesday, December 20, 2023, at its Sector 62 office in Noida. The primary agenda for the meeting includes deliberations on recommending the issuance of bonus shares to the company’s shareholders, as disclosed in the exchange filing.
In addition to the bonus share proposal, the company’s board will also evaluate the prospect of augmenting the Authorized Share Capital of the Company. However, such strategic moves are contingent upon obtaining requisite approvals from regulatory bodies, exchanges, and the shareholders of Salasar Techno Engineering.
As of 1:29 pm, the company’s shares demonstrated a noteworthy ascent, trading 9.66% higher at ₹56.75. The positive market sentiment preceding the board meeting underscores investor optimism surrounding the potential bonus share issuance and other corporate decisions on the agenda.
