Shares of Dynamic Cables Ltd surged 20 percent to Rs 480 to hit the upper circuit on Wednesday, August 20, after the company announced fresh approvals from the Bureau of Indian Standards (BIS) along with an expansion in its production capacity.
In a regulatory filing, the cables and conductors maker said it has secured BIS licenses to manufacture high-conductivity aluminium alloy stranded conductors, as well as thermosetting insulated armoured fire survival cables designed to withstand smoke and corrosive gases when exposed to fire. These cables are rated for working voltages of up to 1,100 V ac and 1,500 V dc. The approvals remain valid until August 2026.
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Alongside, the company has completed incremental capex at its existing facility over the past six months, enabling a monthly revenue potential of up to Rs 135 crore, an improvement over its earlier estimate of Rs 100 crore. The actual utilisation, it added, will depend on order inflows, delivery timelines and product mix.
Promoters hold a 68.18 percent stake in the company, while retail investors with holdings of up to Rs 2 lakh collectively own about 19 percent, exchange data for the June quarter showed. The company has negligible institutional presence.
Despite today's surge, shares of the company are still down 1 percent since the beginning of the year. Volumes were in today's session as 49 lakh shares changed hands, significantly higher than the one-week and one-month average of 1 lakh shares.
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