Multibagger cement stock to consider stock split next week: Do you own?

The company has said today in a stock exchange filing that “Notice is hereby given that a meeting of the Board of Directors of the Company is scheduled to be held at 05:00 PM on, Saturday the 02nd Day of December,2022, at the registered office of the Company to consider and approve Proposal for sub-division of the Equity shares of the Company having a face value of ₹10/- each, in such manner as may be determined by the Board of Directors, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company.”

The company has also informed to stock exchanges that it will re-appointment Mr. Kuchampudi Srinivasa Upendrasaketh Varma as the whole-time Director and re-appointment Mr. Kandula Prasanna Sai Raghuveer as the Managing Director of the Company for a further period of 2 years at the ensuing Annual General Meeting, subject to the approval of members.

In Q2FY23, the company reported a net loss of ₹18.93 crore compared to a net loss of ₹11.13 crore posted in Q2FY22. In comparison to the ₹11.28 Cr reported in Q2FY22, the firm recorded net expenses of ₹17.33 Cr in Q2FY23. The company reported no sales record in the quarter ended September 2022 and in the year-ago quarter as well. In Q2FY23, the company’s earnings per share were down to ₹-5.81 from Q2FY22’s ₹-3.93 per share.

Bheema Cements Ltd. shares ended trading on Friday at ₹166.50 a piece, up 0.24% from the previous close of ₹166.10. In contrast to the 20-Day average volume of 24,563 shares, the stock’s most recent trading session had a total volume of 24,869 shares. The stock has produced a multibagger return of 1,007.05% over the past five years, and on a year-to-date basis in 2022, it has produced a multibagger return of 1,061.90%. For the quarter ended September 2022 or Q2FY23, the company reported a promoter stake of 75%, FIIs stake of 1.78%, DIIs stake of 0.53% and a public shareholding of 22.69%. During its last closing session, the stock was seen trading above 5 days, 10 days, 20 days, 50 days, 100 days and 200 days Simple Moving Average (SMA). The stock had touched a 52-week-high of ₹173.00 on (14/10/2022) and a 52-week-low of ₹13.65 on (16/03/2022), indicating that at the current market price the stock is trading 5% below the high and 1104.02% above the 1-year low.