Penny stock is 54% above the 52-week-low, Board approves stock split

The company has said in a stock exchange filing that “the Board of Directors of the Company at their meeting held on 16th December, 2022, inter alia, has approved and taken on records the following:- 1. Sub-division of face value of Equity Shares from Rs. 10/- to Rs. 1/- 2. Changes in Memorandum of Association for giving effect of the Agenda as stated above 3. Seek approval of the members of the Company for the above referred items, by way of Postal Ballot or EOGM.”

The shares of Shree Securities Ltd closed today on Friday at ₹26.15 apiece, up by 4.81% from the previous close of ₹24.95. The stock recorded a total volume of 363,752 shares compared to the 20-Day average volume of 819,233 shares. The stock has produced a multibagger return of 109% over the past five years, and it has appreciated by 17.42% during the past year. The stock has gained 11.85% on a YTD basis so far in 2022. 

The stock had touched a 52-week-high of ₹34.05 on (06/12/2022) and a 52-week-low of ₹16.90 on (01/11/2022), indicating that at the current market price the stock is trading 23.20% below the 1 year high and 54.73% above the 1 year low. At closing price on Friday, the stock was seen trading below 5 days, 10 days EMA but above the 20 days and 50 days Exponential Moving Average (EMA). For the quarter ended September 2022 or Q2FY23, the company posted a promoter shareholding of 30.63% and a public stake of 69.37%. The stock has a book value per share of 3.15, indicating that at the current market price the stock is trading at a price-to-book value (P/B) ratio of 8.30.