Small-cap stock under ₹20: Telecom share jumps up to 7% after amalgamation move

Stock Market Today: Small-cap stock under ₹20 Salasar Techno Engineering share price gained up to 7% in the morning trade on Thursday, December 26 after the telecom company announced that its board will consider amalgamating Hill View Infrabuild with itself at a meeting next week.

Salasar Techno Engineering share price opened at ₹13.79 on the BSE on Thursday. The share price thereafter rose to intraday highs of ₹14.73, marking gains of almost 7%.

Salasar Techno Engineering share price has risen 1,270% over the last five years, having given multibagger returns to investors.

Salasar Techno Engineering in its release on the exchanges on Wednesday, December 25, said that the meeting of Board of Directors of Salasar Techno Engineering Limited is scheduled to be held on Monday, December 30, 2024, at 05:00 P.M. at its registered office, to consider and approve, the proposed amalgamation of Hill View Infrabuild Limited with Salasar Techno Engineering Limited.

Earnings Snapshot

During the quarter ended September 2024 Salasar Techno Engineering generated ₹281.49 crore in revenue from sales, while its total revenue came to ₹283.22 crore.

For the quarter, the net profit was ₹9.60 crore, which was better than ₹9.06 crore clocked by the company during the year-ago quarter. However, on a sequential basis, the profit declined from ₹10.5 crore posted in the June 2024 quarter. The September quarter witnessed an impact of monsoon season, with the execution slowing down slightly.

Salasar Techno Engineering also reported sales of ₹575.49 crore and revenue of ₹578.13 crore during the first half of FY25. With basic earnings per share of ₹0.12 from ongoing activities, net income for the six-month period came to ₹20.09 crore, higher than ₹19.2 crore recorded during the first half of FY24.

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