1:10 Stock Split: Energy Stock Up 253% In 3 Months To Trade Ex-Split Tomorrow; Hits Upper Circuit

Shares of Small cap multi-bagger stock operating in the gas and petroleum sector Dolphin Offshore Enterprises (India) hit an upper circuit at Rs. 1826.85 on Wednesday (Jan 24). Dolphin Offshore shares traded at a new 52 Week High value of 1826.85 today. Shares of Dolphin Offshore shares grabbed attention as the stock will trade ex-split tomorrow (Jan 25). In an exchange filing on January 12, the company fixed January 25, 2024 as the "Record date" for the Sub-Division of every 1 (One) Equity Shares of the Nominalj Face Value of Rs.I0 each into 10 Equity Shares of the Nominal Face Value of Rs. 1 each.

Dolphin Offshore stock has been hitting back-to-back upper circuits and 52-week high since January 15. The stock hit an Upper Circuit of Rs. 1791.05 on Jan 23, an Upper Circuit of Rs. 1755.95 on Jan 20, an Upper Circuit of Rs. 1721.55 on Jan 19, and so on. The company has a market cap of Rs 730.82 crore.

Dolphin Offshore Stock Split Record Date:
In an exchange filing on Jan 12, the company said: "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 Face Value of Rs.I0 - (Rupees Ten Only) each into 10 (Ten) Equity Shares of the Nominal Face Value of Rs. 1 (Rupees One Only) each."

Dolphin Offshore Stock Split announcement:

In an exchange filing on December 7, 2023, the company announced a division of its shares in the ratio 10:1 [For every One Equity Shares of Rs. 10 Each; Ten Equity Shares of Rs. 1/- each] to improve the liquidity of the Company's Share and to make it more affordable for small investors and retail investors as also to broaden the small investors base.

Dolphin Offshore Enterprises (India) Share price performance:

Shares of Dolphin Offshore were spotted trading 2% higher at Rs 1826.85 on BSE at 11:14 am IST today. The stock's 52-week high price is Rs 1,826.85 per share and 52-week low price is Rs 120.17 per share, respectively. Dolphin Offshore shares gained 43604.55% in the last 3-years, and soared 3550.05% in the last 5-years. In the last three months, the stock has gained 253.19%.

About Dolphin Offshore Enterprises (India) Limited (DOEIL):

Dolphin Offshore Enterprises (India) Limited (DOEIL) is a leading provider of underwater services to the Indian oil and gas industry. Over the years, the company has developed a diversified portfolio for undertaking turnkey projects involving sub-sea and marine services and as an EPC contractor. According to the company website, DOEIL has qualified to independently handle two major turnkey projects for ONGCL in 2008. That year the company's order book stood at US$112 million.