Metal Stock To Okay Stock Split After 202% Rally In 1 Yr; Up 103% In 6 Months

As of Thursday's closing session, Dhatre Udyog Ltd, a small-cap metal firm, has a market worth of Rs 254.08 Cr. The company is well recognised as a pioneer in the field of manufacturing the best TMT bars. Headquartered in Vizianagram, Andhra Pradesh, India, Dhatre Udyog Limited (DUL) is a secondary steel producer that was established as a private limited company in 1996.

The firm sells a variety of products, such as wire rod coils in various sizes, flats, squares, rounds, MS Grade Angels, and rebars. The most exciting news is that Dhatre Udyog, one of Dalal Street's multibagger stocks, will announce a stock split for its eligible shareholders. The company has seen a gain of over 200% in only a single year.

Dhatre Udyog Stock Split

"Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that meeting of Board of Directors of the Company is scheduled to be held on Thursday, 8th February, 2024 at the Registered Office of the Company, inter alia, the following: 1.

To consider and approve the proposal to sub-divide/split of the equity shares of the Company in such manner as may be determined by the Board of Directors and subject to approval of the shareholders and such authorities as may be required. 2. Any other matter with the permission of the Chair as the Board thinks fit or which is Incidental and ancillary to the business of the Company," said Dhatre Udyog in a stock exchange filing.

Dhatre Udyog Financials

The company reported a net income of Rs 57.85 Cr during the quarter ended 31st December 2023 compared to Rs 42.58 Cr in the same quarter of the previous fiscal. Its net expenses stood at Rs 52.83 Cr in the quarter under review as against Rs 40.79 Cr in the year-ago quarter. The EBIT of the company reached Rs 5.02 Cr which was Rs 1.78 Cr in the corresponding quarter of the previous fiscal whereas the net profit of Dhatre Udyog stood at Rs 3.62 Cr in Q3FY24 compared to Rs 1.24 Cr in Q3FY23.

Dhatre Udyog Share Price History

On Thursday, the shares of Dhatre Udyog closed on the BSE at Rs 233.20 apiece. The scrip reached a 52-week-high of Rs 317.25 on (11/12/2023) and a 52-week-low of Rs 73.90 on (21/02/2023). The stock has produced a multibagger return of 556.90% over the past five years, and it has generated a multibagger return of 789 during the last three years. The stock has shot up by 202.27% during the past year, and on a year-to-date basis, it has produced a return of 21.93%. Its gain over the last half-year has been 103.47%.