In the dynamic energy sector, Dolphin Offshore Enterprises (India) Ltd has emerged as a micro-cap powerhouse with a market valuation of Rs 623.83 Cr. Recently, the stock hit a new 52-week high at Rs 1559.40, showcasing a remarkable journey of 1,197.66% growth from its one-year low of Rs 120.17 in August 2023.
Stock Split Announcement
The Board of Directors has added another layer of intrigue to Dolphin Offshore’s narrative by declaring a record date for an upcoming corporate action – a stock split. On January 25, 2024, the company plans to subdivide every equity share of Rs.10/- into 10 shares of Rs.1/- each, fostering a potentially larger shareholder base and enhancing liquidity.
Stock Performance Highlights
Dolphin Offshore’s stock has been on a stellar trajectory, witnessing a multibagger return of 2,743.03% over the past five years and an impressive 1,197.66% in the last year alone. In 2024, the stock has already surged by 19.23% year to date, sustaining its upward momentum.
FIIs on the Rise
Examining the shareholding pattern, FIIs have notably increased their stake in Dolphin Offshore. In October 2023, FIIs’ stake rose from 0% to 21.05%, marking a significant shift. Promoters’ stake reduced to 74.99%, while DIIs and the public maintained their positions.
Recent FIIs Activities
Prominent FIIs, including Aries Opportunities Fund Limited, Vespera Fund Limited, and Elara India Opportunities Fund Limited, demonstrated confidence in Dolphin Offshore by making substantial share acquisitions during October 2023.
Q2FY24 Insights
During the second quarter of fiscal year 2023-24, Dolphin Offshore reported a robust shareholding structure, with promoters holding 94.98%, DIIs at 2%, and public stake at 3.02%. These numbers reflect a stable foundation for the company.
About the Company
DOEIL is a part of Deep Industries Ltd. It is a provider of underwater services to the Indian oil and gas industry. It has undertaken turnkey projects involving sub-sea and marine services and as an EPC contractor. Company’s services are certified by ISO 9001 and the American Bureau of Shipping
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
