Debt-free multibagger penny stock at Rs 28.63 hit upper circuit & 52-week high: Board announces 10:1 stock split; Scrip trades at low PE & high ROE
The stock gave multibagger returns of 310 per cent in just 1 year.
On Friday, shares of Bridge Securities Ltd hit a 5 per cent upper circuit to Rs 28.63 per share from its previous closing of Rs 27.27 per share. The stock also made a fresh new 52-week high of Rs 28.63 while its 52-week low is Rs 5.35.
The Board of Directors of the company announced the stock split of equity shares i.e., sub-division/ Split of 1 equity share of the company having a face value of Rs 10 each into 10 equity shares having a face value of Re1 each. The company fixed the record date for the stock split as Wednesday, July 10, 2024.
Bridge Securities Ltd could be either a stockbroker and investment advisor in India, founded in 1994, offering consultation and financial planning. The company has a market cap of Rs 9.62 crore and as of March 31, 2024, the company is debt-free.
According to Quarterly Results, the company reported net sales of Rs 0.32 crore in Q4FY24 compared to Rs 0.33 crore in Q4FY23. The company reported a net profit of Rs 0.27 crore in Q4FY24 compared to a net loss of Rs 0.40 crore in Q4FY23, an increase of 167.5 per cent.
Also Read: 1:1 Bonus Share & 10:1 Stock Split: Ashish Kacholia bought 9,10,000 shares of this multibagger civil construction company; Scrip hit upper circuit
In its annual results, the company reported net sales of Rs 0.80 crore in FY24 compared to Rs 0.97 crore in FY23. The company reported a net profit of Rs 0.52 crore in FY24 compared to a net loss of Rs 0.68 crore in FY23, an increase of 176.5 per cent.
The shares of the company have a PE of 17x whereas the industry PE is 33x with an ROE of 75 per cent and an ROCE of 99 per cent. The stock gave multibagger returns of 310 per cent in just 1 year and investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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