This penny stock is hitting consecutive upper circuits as the board decides to issue a stock split!

Kaustubh Bhosale
This penny stock is hitting consecutive upper circuits as the board decides to issue a stock split!

This multibagger microcap stock has broken the previous 52-week high after the company's board announced a stock split.

This multibagger microcap stock has broken the previous 52-week high after the company's board announced a stock split. Also, on daily volume of the stock traded is gradually increasing as the split has been announced. The stock is hitting a consecutive 52-week high in the last five trading sessions. The company has shown strong annual EPS growth. The shares of Shree Securities have given a strong recovery from the support levels of Rs 18.50. 

 

On the BSE, the shares of Shree Securities Ltd closed yesterday's trading session at a 5 per cent upper circuit limit of Rs 30.95. The stock has produced a multibagger return of 124.76 per cent over the past 18 months and an astonishing return of 58.72 per cent over the past one month. The stock has appreciated 21.14 per cent over the past five trading sessions. The company posted a promoter shareholding of 30.62 per cent and a public stake of 69.36 per cent. 

 

The Board of Directors of the company informed stock exchanges that they will meet on Friday, December 16, 2022, to consider and approve the proposal for a stock split subject to the approval of the shareholders and such authorities as may be required. 

 

The company has been effectively using capital to generate profit as RoCE is improving over the last 2 years. Also, the management with optimum use of shareholder's funds was able to churn good return on equity (ROE) as it is seen improving in the last 2 years. Growth in quarterly net profit with increasing Profit Margin (YoY) is also seen. Furthermore, the company is with no debt. 

 

With a market cap of Rs 246.98 crore, Shree Securities Ltd is a Small-Cap company that operates in the financial services industry. 

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