Penny stock announces expansion plans, scrip is 175% up from 52-week-low

The company has said in a stock exchange filing that its Board of Directors has “considered and approved 1. To expand business operations to Canada and approved to incorporate a wholly owned subsidiary in Canada. 2. The Board has authorized Mr. Subramaniyam Seetha Raman M D, to take necessary steps to incorporate wholly owned subsidiary in Canada.”

The shares of Response Informatics closed today on the BSE at ₹35.75 apiece level, up by 2.14% from the previous close of ₹35.00. The stock recorded a total volume of 743 shares. The stock price jumped from ₹5.61 on January 18, 2018, to the level it is trading at now, representing a multibagger return of 537.25%. The stock price climbed from ₹9.05 on September 11, 2020 to the market price today, representing a multibagger return of 295%. The stock price rose from ₹12.96 on January 17, 2022, to the current market price during the past year, representing a multibagger return of 175.85%. The stock has appreciated 26.55% YTD so far in 2023. 

The stock had touched a 52-week-high of ₹58.70 on (29/07/2022) and a 52-week-low of ₹12.96 on (17/01/2022), indicating that at the current market price, the stock is trading 39.09% below the 1-year high and 175.84% above the 1 year low. For the quarter ended September 2022 or Q2FY23, the company posted a promoter shareholding of 56.48% and a public stake of 43.52%. For Q2FY23, the company posted earnings per share (EPS) of ₹0.08, price-earning ratio (PE) of 438.17, book value / share of 6.82 and price to book value of ₹5.24, as per the data of StockEdge.