Escorp Asset Management Limited as the name suggests is an asset management company with a market cap of 13.67 crore The Board of Directors of Escorp Asset Management Limited in a meeting held on 10th June, 2022 approved the issue of 2:3 Bonus Shares. Recently, the board of directors of the company has fixed the record date for bonus shares to determine the eligibility of shareholders for the purpose of the same.
The Board of the Company in an exchange filing said that “In compliance with Regulation 42(2) and (3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is to inform that the Company has fixed Monday, the 25th July, 2022 for the purpose of ensuring the eligibility of shareholders to issue bonus shares in the ratio of 3 (three) fully paid-up equity shares for every 2 (two) existing fully paid-up equity shares subject to shareholders as on the record date. which is being obtained through postal ballot process.”
Shares of Escorp Asset Management closed on BSE 20.50 level, up 19.88% from its previous close 17.10 On BSE, the stock had touched a 52-week high 52-week low of 23.80 on 11/01/2022 16.50 on 23/07/2021 which indicates that at current market price the stock is trading 13.86% below 52-week high and 24.24% above 52-week low. The last trade on BSE on Friday was of 8,000 shares. The book value per share of the company is 37.0, which means that the stock is now trading at a P/B of 0.55 times its book value at the current market price. The company’s net profit margin for the three months ended March 2022 was 93.94 per cent, the highest level since March 2013, and the return on equity (ROE) stood at 17.16 per cent. For the quarter ended March 2022, the company’s EV/EBITDA ratio was 1.35x, the lowest level since March 2018. This ratio is an indicator that the stock may be undervalued compared to its competitors including HDFC AMC, Muthoot Finance. Bajaj Holdings, SBI Cards and Bajaj Finserv.
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