The shares of Dangee Dums Limited opened at Rs 409 and scaled by approximately 12 per cent to reach its new 52-week high of Rs 460 on Thursday. In a month the stock has jumped by more than 15 per cent.
So far this year, the stock has gained more than 117 per cent YTD. If an investor had invested Rs 1 lakhs in January their investment would be worth Rs 2.17 lakhs in eight months.
The shares of Dangee Dums Limited were trading at Rs 190 a piece in September. Since then it has spiked up to the current levels, representing multibagger returns of 137 per cent in a month.
The multibagger stock is coming up with a stock split. The Equity shares of the Company of Rs10 each will be subdivided into the smaller denomination of Re 1 each. For this purpose, the board has fixed Wednesday, 07th September 2022 as the record date.
In addition to that, the board of the company has also declared the bonus issue of shares. The ratio will be 1:2 i.e, One bonus equity share of Re.1/- each will be issued for every two fully paid-up equity shares of Re.1/-each held, post subdivision of the shares. The record date for the purpose has been set as Wednesday, 07th September 2022.
On a yearly basis, the company reported an increase of 20 per cent in its total revenue which stood at Rs 20 crores in FY22 as against Rs 13 crores in FY21. Their net losses narrowed to Rs 1 crore in the year from Rs 10 crore in FY21.
The FMCG company produces various kinds of bakery and dessert products and is now operating through 78 Company Owned Company Operated (COCO) outlets in two layouts. The brand is present in five cities with 45 stores in Ahmedabad, 18 stores in Surat, nine stores in Vadodara, three stores in Anand, and three stores in Gandhinagar.
Dangee Dums Limited has a market capitalization of Rs 456 crores and the promoters of the company hold a stake of 64.45 per cent in the company with zero shares pledged.
Written by – Anoushka Roy
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