I am invested in this scrip. But I have a few observations/queries. Any thoughts on them would be helpful !
a) In recent times from the week of 17th July 2023 onwards the stock has witnessed an almost non stop vertical rise. Few days in between it did see corrections. But again turned around and started the vertical rise.
Interesting thing is prior to the week of 17th July 2023 and for quite an elongated period the price movement was almost flat.
Wonder what could have prompted this vertical rise when there were no triggers, atleast in public domain. Q1FY 24 results too werent declared ( atleast publicly) and were several days away.
b) The change in depreciation policy which coincided with the Q1FY24 results which all of a sudded made the PE look very attractive. Not sure again what was the trigger or the need to do it then. Could it not have been done earlier ? Or later ?
c) In the last couple of months or so, two of their Company Secretary & Compliance Officer left the company. Company Secretary is a senior resource and a KMP. Is this an usual development in micro sized companies like these ?
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