Smallcap stock emerges multibagger in 6 months, turns ₹1 lakh investment into over ₹2.35 lakh corpus

On BSE, Salasar Techno stock closed at ₹56.40 apiece up by 8.36% on Tuesday. The stock had zoomed by at least 11.43% by touching a new 52-week high of ₹58 apiece earlier in the day.

At the current closing price, Salasar Techno’s market cap is over ₹1,780 crore.

In its regulatory filing, Salasar said this order is for the “development of distribution infrastructure for loss reduction in district Bulandshahar, Hapur, Baghpat, and Meerut of Uttar Pradesh and revamped reforms based and Result Linked Distribution Sector Scheme (RDSS) for electricity distribution, GPS survey, design, supply, installation, GIS asset mapping, testing, and commissioning of works related to loss reduction on turnkey bases under RDSS.”

As per the filing, the first LOI is worth ₹403.85 crore for the electricity distribution circle (EDC) in district Hapur and Bulandshahar under RDSS, while the second order is also EDC but for District Meerut and Baghput and amounted to ₹344.61 crore.

Salasar management team stated that “this order showcases our strength in executing large orders, developing products with cutting edge research & development and most importantly the approach of STEL towards achieving its ultimate mission of delivering innovative cost-efficient and modern engineering solutions backed by agile service implementation teams.”

The team added that Salasar Techno continues to remain focused on developing and implementing solutions to become one of the most preferred infrastructure enablers.

The above two orders are expected to be executed in the next 24 months i.e. in part of FY23, FY24, and FY25.

Riding on the back of a bull on Tuesday, Salasar Techno has become a multibagger stock.

Salasar Techno stock has been on a gaining spree since December 16th. The stock was in red at ₹49.05 apiece on December 15 but picked up momentum thereafter. Since then, it has surged by 14.98% on Dalal Street with most gains seen on December 20th.

So far in the current month, Salasar stock has advanced by 59.55% on BSE. In six months’ time, Salasar emerged as a multibagger with stock skyrocketing by a whopping 135.6% on the exchange.

Let’s suppose, investors who invested ₹1 lakh in Salasar six months ago on June 20, their corpus has reached over ₹2.35 lakh to date.

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Incorporated in 2001, Salasar Techno has been providing customised steel fabrication and infrastructure solutions in the country. Also, the company is among the leading manufacturers of telecom towers in India with a supply of over 50,000 towers since its inception. Salasar Techno has three state-of-art manufacturing facilities located in Hapur, Uttar Pradesh.