Multibagger stocks: Today’s NSE debut of a BSE listed share
Dynamic Cables share, one of today’s multibagger stocks, was launched on the BSE SME Exchange in December 2017.
Manufacturer of wire and cables Dynamic Cables Ltd. (DCL), situated in Jaipur, has announced listing clearance of its equity shares on the National Stock Exchange in an effort to uphold its promise to the company’s stakeholders (NSE). Currently, company shares are traded on the Bombay Stock Exchange (Scrip code: 540795). The company went public in December 2017 and was listed on the BSE SME Exchange before moving to the main market on October 1, 2020.
On Wednesday, July 27, 2022, the company’s equity shares will begin trading on the National Stock Exchange (NSE) under the ticker “DYCL.”
Commenting on the listing, Ashish Mangal, Managing Director of Dynamic Cables Limited said, “Today marks an important milestone in the journey of Dynamic Cables Limited and is a reflection of our performance over the years and will go a long way in enhancing investors’ confidence. I would take this opportunity to thank all the regulators, employees and shareholders for their unwavering support, which helped us navigate this process and set us on the path of an exciting new journey,” adding, “We are all humbled by this opportunity and are committed to deliver greater value to our stakeholders by developing innovative solutions for our customers and investing in people, technology, etc. Going Ahead, we shall strive harder to achieve our objectives and capitalize on our competitive advantages to create new possibilities, traverse new boundaries, and deliver more stakeholder value.”
Dynamic Cables share price history
One of the multibagger stocks produced by the Indian stock market over the past year is Dynamic Cables Ltd. In the past year, this multibagger small-cap stock has increased in value from about 48 to 140 per share, returning almost 190 percent to its stockholders. At a price of 40 per equity share, shares of Dynamic Cables Ltd were made available in December 2017. On December 14, 2017, the stock was listed on the BSE at a price of 48 per share, giving the allottees a 20% listing premium. In the four and a half years since it was listed, the small-cap stock has given its investors a 250% gain.
With a market cap of 307 crore and a transaction volume of over 45,000 on Tuesday, Dynamic Cables’ share had a substantially greater trading volume than the average of its previous 20 trading sessions, which was close to 25,000. The share price has a 52-week high of 154 and a 52-week low of 46.50.