Multibagger Penny Stock Below Rs 20 Approves 1:2 Stock Split, Hit 5% Upper Circuit

Square Four Projects India Limited is a micro-cap chemical company that opened today on the BSE at Rs 16.55 apiece level and clocked 5% upper circuit during the early morning deals. Heavy buying demand was witnessed in the stock after the Board of Directors of the company fixed a record date for 1:2 stock split.

"We would like to inform you that the Board of Directors of the Company has fixed Thursday, 20th day of July, 2023 as the RECORD DATE for the purpose of sub-division / splitting of face value of an of equity share of the Company from Rs. 10/- per share to Rs. 5/-per share," said Square Four Projects India in a stock exchange filing.

Square Four Projects India said there will be no fractional shares as all the shareholders holding 1 share of Rs.10/- will be getting 2 shares of Rs.5/- each and the new ISIN number assigned by the depository shall be informed to the exchange at least 3 working days prior to the record date.

On 23rd May 2023, the Board of Directors of the company approved sub-division of 1 fully paid-up Equity Share of the Company having face value of Rs 10/- each, into 2 fully paid-up Equity Shares, having face value of Rs 5/- each.

The company reported a net income of Rs 0.23 Cr during Q4FY23 and its net expenses stood at Rs 0.05 Cr. Its net profit reached Rs 0.17 Cr while its EPS stood at Rs 0.17 during the quarter ended March 2023.

The stock made a 52-week-high of Rs 22.09 on (17/04/2023) and a 52-week-low of Rs 8.01 on (26/12/2022), indicating that at the current market price, the stock is trading 25.07% below the 1-year high and 106.61% above the 1 year low. During Q4FY23, the company reported a promoter shareholding of 74.63% and a public stake of 25.37%.