Home PENNY STOCK The board agrees to divide the shares, Penny stock reaches successive higher...

The board agrees to divide the shares, Penny stock reaches successive higher circuits!

Penny Stock

 After the company’s board of directors announced a stock split, this multibagger microcap stock exceeded the previous 52-week high. Additionally, as the split has been announced, the daily volume of the stock traded has been gradually rising. In the past five trading sessions, the stock has reached a consecutive 52-week high. The business has experienced rapid annual EPS growth. Shree Securities’ stock has made a significant comeback from its support level of Rs 18.50.

The shares of Shree Securities Ltd. ended yesterday’s trading session on the BSE at Rs. 30.95, or a 5% upper circuit limit. Over the last 18 months, the stock has generated a multibagger return of 124.76%, and over the last month, it has produced an astounding return of 58.72%. Over the last five trading sessions, the stock has increased by 21.14 percent. The company reported promoter ownership of 30.62% and public ownership of 69.36%.

The company’s board of directors informed stock exchanges that, subject to shareholder approval and any other necessary approvals, they will meet on Friday, December 16, 2022, to discuss and approve the proposal for a stock split.

As ROCE has gotten better over the past two years, the company has been using capital to generate profits effectively. Additionally, the management produced a strong return on equity (ROE), which has been increasing over the past two years, by making the best possible use of shareholder funds. Growth in quarterly net profit is also seen, as is an increase in profit margin year over year. The business has no debt, as well.

Shree Securities Ltd., a Small-Cap business that provides financial services, has a market cap of Rs. 246.98 crore.

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