Buzzing stock: Shares of this multibagger wire and cable manufacturing company can now be traded on NSE!

Buzzing stock: Shares of this multibagger wire and cable manufacturing company can now be traded on NSE!

Stock Recommendations
by 5paisa Research Team Last Updated: 2022-07-27T15:30:03+05:30

In the last 1-month period, the company’s shares have climbed by an impressive 34%.

Dynamic Cables Ltd (DCL), a manufacturer of wire and cables, has delivered exceptional returns to its shareholders in the last 1 year. During this period, the company’s share price appreciated by 192%, going from Rs 47.80 on 27 July 2021 to Rs 139.90 on 26 July 2022.

Headquartered in Jaipur, Dynamic Cables has announced the listing clearance of its equity shares on the National Stock Exchange (NSE) to uphold its commitment to the company's stakeholders.

Even in the last 1-month period, the company’s shares have climbed by an impressive 34%. Similarly, in the last 5 trading sessions, the share price has surged by 20%.

At present, the company’s shares are traded on the Bombay Stock Exchange (scrip code: 540795). The company moved to the main board on October 1, 2020, after being listed on BSE SME Exchange via its IPO in December 2017. From 27 July 2022, the company will be allowed to trade and would be listed on National Stock Exchange (NSE) with the ticker symbol ‘DYCL.’

Looking at the financials, for FY22, the company reported a revenue of Rs 563.6 crore. The EBITDA came in at Rs 59.8 crore, whereas the PAT stood at Rs 30.9 crore. The market value of Dynamic Cables is Rs 310 crore. At the end of March 2022, promoters owned 74.36% of the company. Non-institutional investors have a total holding of 25.54% compared to institutional investors' modest 0.10 per cent position.

On the valuations front, the company is trading at a TTM PE of 9.97x as against the industry PE of 25.28x. In FY22, the company delivered an ROE and ROCE of 20.93% and 31.70%, respectively.

Today, the scrip opened at Rs 140 and has touched a high and low of Rs 146 and Rs 136.25, respectively. So far 25,438 shares have been traded on the bourses.

At 3 pm, the shares of Dynamic Cables Ltd were trading at Rs 137.90 apiece, an increase of 1.43% over the previous close. Their 52-week high and low stand at Rs 154 and Rs 46.50 on BSE.

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