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Multibagger stock hits 52-week high as the Board declares record date for split

Sadhna Broadcast shares hit a 52-week high in early trade today on the BSE, ahead of the stock split. The stock opened today at  ₹104.85 and has reached its 52-week high of  ₹104.85, representing a 2.95 per cent growth.Premium
Sadhna Broadcast shares hit a 52-week high in early trade today on the BSE, ahead of the stock split. The stock opened today at 104.85 and has reached its 52-week high of 104.85, representing a 2.95 per cent growth.

  • Sadhna Broadcast Ltd's Board of Directors has set a record date for splitting equity shares worth Rs.10/- each into 10 equity shares worth Rs.1/- apiece.

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Sadhna Broadcast Ltd's Board of Directors has set a record date for splitting equity shares worth Rs.10/- each into 10 equity shares worth Rs.1/- apiece. The company have said in a BSE exchange filing that “Pursuant to Regulation 42 (2) of the SEBI (LODR) 2015 the Company has fixed Monday, 13" June, 2022 as the Record Date to ascertain the name of shareholders entitled for Sub-division of equity shares of Rs.10/- each into 10 (Ten) equity shares of face value of Rs.1/- each."

Sadhna Broadcast shares hit a 52-week high in early trade today on the BSE, ahead of the stock split. The stock opened today at 104.85 and has reached its 52-week high of 104.85, representing a 2.95 per cent growth from its previous closing price. Today, the stock outperformed the sector by roughly 1.38 per cent after reaching a new 52-week and all-time high of Rs.104.85. Also, the stock has grown 82.86 per cent in the previous 14 days and has also risen 23.14 per cent in the last 1 week compared to a -1.61 per cent fall in the Sensex.

The stock has risen 22.27 per cent in the previous five days, surpassing Sensex's loss of 2.58 per cent by 19.69 per cent. The stock has risen from 40.45 on May 9, 2021 to the current market price of 103.50 in the last month, resulting in a multibagger return of 155.87 per cent, surpassing the Sensex by 155.02 per cent. In the previous six months, the stock has risen from 11.20 on 14th December 2021 to the current level, marking a multibagger gain of 824.11 per cent compared to the Sensex's drop of 6.59 per cent in that period, outperforming the Sensex by 817.52 per cent.

On a year-to-date (YTD) basis, the stock has climbed from 21 on 3rd January 2022 to the current level, representing a multibagger rise of 392.86 per cent so far in 2022 compared to the Sensex's drop of 7.18 per cent, outperforming the Sensex by 385.68 per cent so far in 2022. In the last 1 year, the shares of BSE listed stock Sadhna Broadcast have moved from 11 as of 11th June 2021 to the current level which represents a multibagger gain of 840.91% compared to the rise of Sensex by 5.76% in the same period which represents that the stock has also outperformed Sensex by 835.15%.

On a weekly and monthly basis, the relative strength index (RSI) indicates that the stock is in the overbought zone. The stock is presently trading at a hugely inflated P/E of 100 times and a P/B of 7.02, indicating that there is something fundamentally wrong with the firm relying on buyer perception. The company's return on equity ratio is roughly 2%, implying weak financial performance and a low return on net assets.

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