Circuit to circuit stock: Metal stock Dhatre Udyog hits life-time high after rising 180% in YTD. Do you own?

This metal stock has been in contact with an upper circuit for the past two trading sessions. In fact, shares of Dhatre Udyog have been taking a major hit over the past two trading sessions as well. After touching the upper circuit on Monday’s session, this circuit opened to the stock circuit today upside down and went on to hit an intraday high ₹234.95 apiece on BSE, locked in a 5 percent upper circuit during Tuesday’s early morning session.

Dhatre Udyog Q2 2023 Results

The board of directors of Dhatre Udyog Ltd considered and approved its results from July to September 2023 in its meeting held on Monday. I Results Q2, 2023Dhatre Udyog Ltd reported over 165 YoY rise in income from operations at ₹38.92 crore against ₹14.66 crore operating income during the second quarter of the previous financial year. TMT bars and secondary steel manufacturers company registered 53.68 percent YoY rise in EBIDTA during the July to September 2023 quarter.

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The Company’s EBIDTA during Q2FY24 stood at ₹2.94 crore, which stood at ₹1.91 crore during the second quarter of the previous fiscal. The Company’s PAT (profit after tax) was at ₹1.92 crore, which is close to 60 percent higher from its Q2FY23 PAT ₹1.20 crore.

Dhatre Udyog H-1FY24 Nos

The metals company also confirmed H-FY24 numbers while announcing its Q2FY24 results on Monday. During the period April to September 2023, company’s revenue from operations grew by over 300 percent to 79.27 crore. The BSE listed company had reported ₹19.75 crore revenue from operations during H-1FY23. In the first half of the current fiscal, this TMT crop maker company also reported an almost 50 percent rise in its EBIDTA.

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The Company’s EBIDTA during H-1FY24 stood at ₹5.85 crore which stood at ₹3.91 crore during H-1FY23. During the period April to June 2023, the metal company registered more than 56 percent YoY rise in its PAT, claimed Dhatre Udyog in its exchange filing.

The share price history of Dhatre Udyog is

In the last one month, this circuit has increased to the stock circuit from approx ₹165 to ₹134.95 apiece levels, registering about a 40 percent rise in this time. Over the past six months, this metal stock has risen from approx ₹85 to ₹234.95 per share levels, a rise of 165 percent in this time. In YTD time, this multi-cap stock has returned nearly 180 percent to its position investors. Likewise, in the past one year, this metal stock has returned 200 percent to its long-term investors.

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This multibagger stock is available for trading on BSE only. Its market cap is ₹256 crore but its current trading volume on BSE alone is 2,944. therefore, this metal stock is a low float stock and can move both sides on a single trigger. It is 52 weeks high, which also has a high life expectancy ₹234.95 apiece but its low is 52 weeks ₹73.90 per share.

Disclaimer: The above opinions and recommendations are the opinions and recommendations of individual analysts or brokerage firms, and are not the opinions of Mint. We encourage investors to check with certified experts before making any investment decision.

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Updated: 21 November 2023, 01:45 PM IST