Salasar Techno Stock Sees 5% Surge on Wednesday Trading Session

Salasar Techno Share Price Soars with 150% Returns for Investors

🚀📈 In the past year, Salasar Techno Engineering Limited’s shares have provided an impressive 150% return to its investors. The company recently allotted 4 bonus shares per eligible shareholder, further boosting their investment.

Acquisition of EMC Limited by Salasar Techno Engineering

🔍📊 Recently, Salasar Techno Engineering Limited acquired EMC Limited, making a significant move in the market. On Tuesday, 19th March 2024, the share price was trading at ₹21.90 with a 1.79% decline. The following day, Wednesday, 20th March 2024, the share price dropped by 0.37% to ₹21.40.

Sebi Approval and Acquisition Details

📰🤝 During the Monday trading session, the company’s shares were trading at ₹22.55 with a 5% surge. Salasar Techno Engineering Limited has informed SEBI that they have placed the highest bid for the acquisition of EMC Limited, which has been approved by the NCLT, Kolkata bench.

Financial Snapshot and Acquisition Amount

💰📆 The acquisition of EMC Limited by Salasar Techno Engineering Limited was valued at ₹178 crores. Formerly known as Electric Manufacturing Company Limited, EMC Limited had an annual turnover of ₹70.70 crores as of 31st March 2023. The shares of Salasar Techno Engineering Limited were traded on March 14, 2023.

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