Penny stock locked in 5% upper circuit limit to announce stock split this week

Square Four Projects India is a small-cap company with a market valuation of ₹12.13 Cr that operates in the real estate industry. Square Four Projects India's shares closed at the upper circuit limit on Friday after the company announced that the Board of Directors will meet this week to consider a stock split proposal.

“We would like to inform you that a meeting of the Board of Directors of the Company will be held on Friday, the 31st day of March, 2023 at 4.00 P.M. at the Registered Office of the Company at 238A, A J C Bose Road, 2nd Floor, Kolkata- 700 020 to consider and approve the proposal for Stock Split (reduction in face value) of the equity share the Company,” said Square Four Projects India in a stock exchange filing.

During Q3FY23, the company reported a revenue of NIL, as well as since FY21-22 the company's revenue stood at zero. The company's net expenses stood at ₹0.06 Cr and its EBITDA reached ₹(-0.06 Cr). Square Four Projects reported a consolidated net loss of ₹(-0.06 Cr) and its equity capital stood at ₹9.81 Cr during Q3FY23.  

The shares of Square Four Projects India Limited closed on Friday on BSE at 4.92% upper circuit limit of ₹12.37 apiece level. The stock recorded a total volume average of 110 shares. In the last 1 year, the stock has fallen 11.33% and on a YTD basis, it has gained 54.05% so far in 2023. The stock touched a 52-week-high of ₹20.85 on (16/05/2022) and a 52-week-low of ₹8.01 on (26/12/2022), indicating that at the current market price, the stock is trading 40.67% below the 1 year high and 54.43% above the 1 year low. During the quarter ended December 2022 or Q3FY23, the company recorded a promoter shareholding of 74.63% and a public stake of 25.37%. The stock is trading at a PE ratio of -136.33 times, PB ratio of 2.03 times, ROE of -1.49 times, and a TTM EPS of -0.09x.