India's Salasar Techno reverses course after rising on bonus issue

Salasar Techno Engineering

20/12/2023 08:55

** Shares of Salasar Techno Engineering  SALA.NS  rose as
much as 5.6%, before reversing course to drop more than 7%
    ** The reason for the drop was not immediately clear
    ** The iron and steel maker approves issue of bonus shares
where four shares will be issued for every share held in co
    ** Stock gained ~20% as of last close after announcing bonus
issue plans on Saturday; It hit a record high on Tuesday
    ** SALA has risen ~16% in December, on track for its biggest
monthly gain in 2023. 
    ** More than 17 mln shares traded by 2:10 p.m. IST, 9x their
30-day avg

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))