Penny stocks hit upper circuit of 5% as board decides to issue stock split

 

• With a market cap of ₹224.24 Crore, Shree Securities Limited is a Small Cap company operating in the Financial Services industry.

With a market cap of ₹224.24 Crore, Shree Securities Limited is a Small-cap company operating in the Financial Services industry. The company invests in both listed and unlisted shares in addition to the NBFC business activity of lending money to its customers. Shree Securities is registered as a Non-Banking Financial Company with RBI and today the Board of Directors of the company informed the stock exchanges that they will meet on Friday, December 16, 2022 to consider and approve the proposal for Stock Split will do.

The company said in a stock exchange filing today that "Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, a meeting of the Board of Directors of the Company is scheduled on Friday, To consider and approve the proposal for sub-division/split of the equity shares of the Company on December 16, 2022 in such manner as may be prescribed by the Board of Directors and require the shareholders and such officers."

Shree Securities' net profit for the quarter ended Sep 2022 increased by 16.67% to ₹0.07 Cr from ₹0.06 Cr in the quarter ended Sep 2021. The company generated net revenue from operations of ₹0.13 Crore in Q2FY23, as compared to ₹0.12 Crore reported in Q2FY22. In Q2FY23, the firm reported EPS of ₹0.009 per share, up from ₹0.008 in Q2FY22.

On BSE, shares of Shree Securities Ltd. today closed in 5% upper circuit limit at a price of Rs. 28.10. The chart pattern of the stock shows that it is in an upper circuit trend since 17th November. The stock had a total volume of 1,360,390 shares today, compared to the 20-day average volume of 509,751 shares. The stock has given multibagger return of 104.07% in last five years and 124.80% in last three years. The stock has appreciated 26.18% over the last year, and YTD, it has climbed 20.19% in 2022. The stock had touched a 52-week high and 52-week low of ₹30.40 on (10/10/2022). (01/11/2022) of ₹ 16.90. For the quarter ended September or Q2FY23, the company posted promoter shareholding of 30.62% and public shareholding of 69.36%.