2% Upper Circuit: Energy Stock Okays Record Date For Stock Split; FIIs Stake Jumps 21.05%

With a market valuation of Rs 623.83 Cr, Dolphin Offshore Enterprises (India) Ltd is a micro-cap company in the energy industry. Dolphin Offshore Enterprises (India) experienced its shares traded in the 2% upper circuit limit on Friday, reaching a new 52-week high of Rs 1559.40. The stock reached a 52-week low of Rs 120.17 on August 22, 2023, signifying that in only five months, it has gone up by 1,197.66% from its one-year low. The company's Board of Directors has announced the record date for the upcoming corporate action stock split, which is further intriguing news about the stock.

Dolphin Offshore Enterprises Stock Split

"Pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015, it is hereby informed that the Board of Directors of the Company has passed the necessary Resolution through Circular today i.e, on January 12, 2024 and has fixed the"Record date" on Thursday, January 25, 2024 for the purpose of Sub-Division of every 1 (One) Equity Shares of the Nominal / FaceValue of Rs.10/-(Rupees Ten Only) each into 10 (Ten) Equity Shares of the Nominal Face Value of Rs.1/- (Rupees One Only) each," said Dolphin Offshore Enterprises in a stock exchange filing.

Dolphin Offshore Enterprises Share Price History

The stock price has gone up from Rs 50.75 to the current market price of Rs 1559.40 during the past five years, resulting in a multibagger return of 2,743.03%. The stock price jumped from Rs 132.47 to the current market price level in the past year, yielding a multibagger return of 1,197.66%. The stock climbed 19.23% year to date (YTD) in 2024 and 1,197.66% over the previous half-year. The stock has gone up by 51.17% over the past month and by 8.24% over the last five trading sessions.

Dolphin Offshore Enterprises Shareholding Pattern

During Q2FY24, the company reported promoters' shareholding of 94.98%, DIIs stake of 2% and public stake of 3.02%. However, as per the data of Screener.in during the month of October 2023, promoters stake reached 74.99%, FIIs stake jumped from 0 to 21.05%, DIIs stake reached 1.58% and public stake stood at 2.38%. FIIs like Aries Opportunities Fund Limited bought 399,645 shares which are 9.99% of the total paid-up share capital, Vespera Fund Limited bought 242,733 shares which are 6.07% of the total paid-up equity share capital and Elara India Opportunities Fund Limited bought 199,622 shares which are 4.99% total paid-up equity share capital of the company.