Bridge Securities, a financial services provider with a penny stock status, touched a new 52-week high and 5% upper circuit on July 11th, after splitting for the first time. Bridge Securities has split in the ratio of 1:10. The stock is now cheaper and trading below Rs 5. It is also a multibagger in 2024 so far.
Bridge Securities Share Price:
After turning ex-split, Bridge Securities share price stood at Rs 4.43 apiece, which is its new 52-week high level and 5% upper circuit. Meaning, the stock froze at its new high and upper limit, witnessing only buyers and no sellers.
Bridge Securities is trading up by a breathtaking 720.37% from its 52-week low of Rs 0.54 apiece.
YTD, Bridge Securities emerged among top-performing penny stocks with gains of a whopping 173.46% on BSE. In a year, the stock is up by 581.54%.
Bridge Securities Stock Split:
The penny stock turned ex-split on July 10 for its sub-division ratio of 1:10. Simply put, 1 existing equity share of the company, having a face value of Rs. 10.00/- (Rupees Ten Only) split into 10 (Ten) Equity shares having face value of Re. 1.00/- (Rupee One Only) each.
Stock split is carried out to improve liquidity in the company, and become affordable for new and existing investors.
If an investor held 100 shares of Bridge Securities before July 10, then after a stock split ratio of 1:10, their shareholding will rise to 1,000 shares (100 X 10).
Apart from this, adjusted to the stock split ratio, a Rs 10,000 investment at the start of 2024, will lead to a corpus of Rs 27,346 as of now. This will be gains of Rs 17,346 or 173.46% in less than 7 months.
If the same Rs 10,000 was invested at its 52-week low levels, then the corpus will be at Rs 82,037. That being said, in less than 1 year, Rs 10,000 investment in Bridge received gains of Rs 72,037, or 720.37%.
About Bridge Securities:
Incorporated in December 1994, Bridge Securities is engaged in the business of trading products like seeds, and agricultural produce mainly Rice, Wheat, Onions, potatoes, Tomato, Isabgol, and Pulses. The company sources the agricultural products from the manufacturers by paying an advance payment with its labeling and then these products are sold to its network of distributors.
Owing to its presence in the market for decades, the company has built strong relationships with both the farmers as well as with the wholesaler/retailers' community. In contract manufacturing, the Company leases agricultural land on lease and cultivates Cucumber, Onion and Castor to meet the demand in the market. This gives the Company control over the entire process and getting the agricultural products at better rates as compared to the market.
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