Dont miss action in this SME stock as bonus share announcement and shift to Main Boards are on cards!

The stock got locked at a 20 per cent upper circuit and also, registered a fresh 52-week high.   

Friday turned out to be a fearsome day for the market participants as Nifty snapped its eight-day winning streak and ended the day with a loss of over 1 per cent. Moreover, on the daily chart, it formed one of the most sizeable bearish candles since mid-June.   

Despite the fact that there was a sharp sell-off witnessed in the frontline gauge, some of the SME stocks on BSE SME were on cloud nine! 

One of the stocks that caught our attention was SecMark Consultancy Limited. The stock got locked at a 20 per cent upper circuit and also, registered a fresh 52-week high.   

On digging deeper, we found that the meeting of its board of directors is scheduled to take place on Tuesday i.e., August 23, 2022, to transact the following business:  

-To recommend and approve the issue of bonus shares to the equity shareholders of the company;  

-To approve the proposal of the company’s migration from SME platform of BSE Ltd to the Main Boards of BSE and NSE. 

Here’s what the company does! SecMark offers consulting, technology & outsourcing services in the areas of compliance, operations, risk management, outsourcing, software development, etc. to more than 250 financial market participants, and others. The clients primarily include stock and commodity brokers, depository participants, stock exchanges, wealth managers, alternative investment funds, research analysts, insurance companies, insurance brokers, corporate agents, portfolio managers, investment advisors, NBFCs, etc.   

Meanwhile, the stock has delivered handsome returns of nearly 38 per cent in the last one month. Also, there is an observation that the stock performs well as it’s all set to be listed on the Main Board. Hence, keep a close watch on this stock!   

Note:  Not a recommendation; only for enlightenment purposes!