500 per cent returns & FIIs bought 8,42,000 shares of this multibagger micro-cap stock; Board likely to announce stock split!
The stock is up by 58 per cent in just 1 month and gave multibagger returns of over 500 per cent in 3 years.
Dolphin Offshore Enterprises (India) Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Thursday, December 07, 2023 to transact the following business:
To consider and approve the proposal to sub-division / stock split of the equity shares of the company in such manner as may be determined by the Board of Directors and subject to the approval of the shareholders and such authorities as may be required.
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 325.5 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.
On Friday, shares of Dolphin Offshore Enterprises (India) Ltd were locked in a 2 per cent upper circuit to Rs 813.65 per share from its previous closing of Rs 797.70. The stock also made a new 52-week high of Rs 813.65 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.
The stock is up by 58 per cent in just 1 month and gave multibagger returns of over 500 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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