1,250 per cent returns & FIIs bought 8,42,000 shares of this multibagger micro-cap stock; Board announces stock split!

The stock gave multibagger returns of 1,250 per cent from its 52-week low of Rs 120.17 per share.

Dolphin Offshore Enterprises (India) Ltd informed that the meeting of the Board of Directors of the company has approved the sub-division of every 1 (one) equity share of the nominal face value of Rs 10 (Rupees ten only) each into 10 (ten) equity shares of the nominal face value of Rs 1 (Rupees one only) each. The company fixed the record date as Thursday, January 25, 2024.

Dolphin Offshore Enterprises India Ltd offers marine services to the offshore oil and gas industry. The company offers diving and underwater services, installs equipment on offshore platforms and drilling rigs, operates dumb barges, tugboats and offshore supply vessels, and repairs ships and drilling rigs.

Talking about the financials, the company has a market cap of Rs 649.01 crore. In its Quarterly Results, the net sales increased by 197 per cent and net profit increased by 2,615 per cent to Rs 3.53 crore in Q2FY24 compared to Q1FY24. In the September quarter of the fiscal year 2024, FIIs bought 8,42,000 shares or 21.05 per cent stake in the company.

Today, shares of Dolphin Offshore Enterprises (India) Ltd were locked in a 2 per cent upper circuit to Rs 1,622.35 per share from its previous closing of Rs 1,590.55. The stock also made a new 52-week high of Rs 1,622.35 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.

The stock gave multibagger returns of 1,250 per cent from its 52-week low of Rs 120.17 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.