The shares of the micro-cap company engaged in the trading business of commodities rose 20% upper circuit on Thursday after the board approved the allotment of equity shares through right issue.
Share price variations:
With a market capitalization of Rs. 41.50 crores, the shares of Dhyaani Trade Ventures Limited opened the trading session at Rs. 22.32 almost par with the previous close of Rs. 22.28 and closed the session at Rs.26.72 hitting upper circuit of 20%.
Reason for Rise:
As per the exchange filings, the Board of Directors of Dhyaani Trade Ventures Limited, in their meeting held on September 25th, approved the allotment of 1,27,68,000 fully paid-up equity shares, each with a face value of ₹10, on a rights issue basis. The shares are to be issued at a price of ₹23 per share, which includes a premium of ₹13 per share.
Financial Performance:
For FY24 the company reported a net profit declined by 10.77% to Rs. 0.69 crores compared to net profit Rs. 0.77 crores in FY23, while revenue from operations increased by 46.45% to Rs.29.67 crores from Rs. 20.26 crores in comparison to the same period. Company has a ROE of 17.37% and ROCE of 22.06% in FY24.
About the company:
Incorporated in 2014, Dhyaani Trade Ventures Limited earlier known as Dhyaani Tile and Marblez is in the trading business of commodities. The company has mainly four business vertices all catering to the needs of the agricultural sector.
It includes Trading various agri-inputs and commodities, Manufacturing spare parts and accessories for modern agricultural implements. Engaging in software development, Offering IT-enabled services, including Artificial Intelligence solutions.
The company was previously engaged in the tiles and marble business. However, on November 18th, 2023, it changed its primary objectives and shifted its business operations to trading in agro products, fertilisers, and tobacco products.
Written By Joseph Pv
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