Penny stock hits 5% upper circuit as Board decides to issue stock split

The company has said today in a stock exchange filing that “In pursuance to the 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 to be held on Friday, 16th December, 2022 to consider and approve the proposal to sub-divide/split of the Equity Shares of the Company in such manner as may be determined by the Board of Directors and subject to approval of the Shareholders and such authorities as may be required.”

Shree Securities’ net profit grew by 16.67% YoY to ₹0.07 crore in the quarter that ended in September 2022 from ₹0.06 crore in the quarter that ended in September 2021. In comparison to the ₹0.12 Cr reported in Q2FY22, the company generated net revenue from operations of ₹0.13 Cr in Q2FY23. In Q2FY23, the firm reported an EPS of ₹0.009 per share, up from ₹0.008 in Q2FY22.

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