Small-cap stock hits upper circuit on 10th day in a row. Board to consider stock split soon
6 min read . Updated: 01 Dec 2022, 12:53 PM IST
Premium- Small-cap company is going to consider stock split in its board meeting scheduled on 16th December 2022
Stock split 2022: .mall-cap stock Shree Securities has been hitting upper circuit for the last 10 straight sessions as the stock has been in uptrend for more than a month. After closing at ₹18.20 apiece levels on 17th November 2022, this small-cap stock has been finding no buyers since then on a continuous basis. The stock is in news these days as board of directors of the company are going to consider stock split in their scheduled meeting on 16th December 2022.
Informing about the outcome of its recent board meeting, Shree Securities said, "The meeting of the Board of Directors of the Company is scheduled on 16/12/2022, inter alia, 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."
The multibagger microcap stock that has surged from around ₹14.85 to ₹29.50 apiece levels in near one year is about to break its life-time high as it is around Re 1 away from its record high of ₹30.40 on BSE. The small-cap company is a debt-free company. Hence, it debt-equity ratio is zero. The company has reported improvement in revenue in last two quarter and its ROE has also improved in last two years. In last two years, the small-cap company with a market cap of ₹235 crore has been reporting improvement in annual net profit and book value per share. Apart from this, company or its promoters have not pledged its shares till date.
Small-cap company's net profit grew by 16.67 per cent 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. Compared to ₹0.12 crore reported in Q2FY22, the company generated net revenue from operations of ₹0.13 crore in Q2FY23. In Q2FY23, the small-cap company has reported an EPS of ₹0.009 per share, up from ₹0.008 in Q2FY22.
In last one month, this multibagger small-cap stock has surged from around ₹18.50 to ₹29.50 apiece levels, logging near 60 per cent in this period. However, in YTD time, it has delivered more than 25 per cent whereas since June 2021 to till date, it has ascended from around ₹13.75 to ₹29.50 apiece levels, delivering near 115 per cent rise in this period.
