This smallcap financial services stock has zoomed over 100% in 2 months

Shares of Dhani Services hit an over two-year high of Rs 97.49, surging 15 per cent on the BSE in Friday's intra-day trade amid heavy volumes in an otherwise range-bound market.

Shares of Dhani Services hit an over two-year high at Rs 97.49, surging 15 per cent on the BSE in Friday’s intra-day trade amid heavy volumes in an otherwise a range-bound market. In the past three days, the stock has soared 24 per cent. It was quoting at its highest level since February 2022. In the last two months, the market price of Dhani Services has more-than-doubled or zoomed 107 per cent from level of Rs 47.17.

 

At 11:54 am; the stock was trading 14 per cent higher at Rs 96.22, as compared to 0.08 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped over three-fold, with a combined 25.7 million shares representing 4.26 per cent of total equity of the company changing hands on the NSE and BSE.

 

 

For July to September quarter (Q2FY25), Dhani Services reported a consolidated profit after tax of Rs 4.19 crore, as compared to a loss of Rs 104.94 crore in Q2FY24 and Rs 83.34 crore in Q1FY25. Total revenue from operations grew 4 per cent to Rs 102.63 crore from Rs 98.57 crore in a year ago quarter.

 

Dhani is a data-driven technology company catering to the diverse needs of customers, including Demat & Trading services, UPI and Credit facilities. Dhani's multifaceted approach reflects its commitment to enhancing user experiences through an array of accessible solution.

 

Dhani Services enables customers to trade across various segments, including Equity, Derivatives, Commodity, and Currency. This broad range of trading options allows investors to diversify their portfolios and take advantage of different market opportunities. Furthermore, Dhani Stocks will soon offer seamless investment options in Mutual Funds and NFOs (New Fund Offers), in addition to the currently available IPOs (Initial Public Offerings), ETFs (Exchange Traded Funds), and other bidding opportunities.

 

The company, through its wholly-owned subsidiary companies, had acquired 2 land parcels; a developable area of approximately 17 acres (estimated saleable area of 5mn sq.ft) in Gurugram & approximately 0.57 acres (estimated saleable area of 0.26mn sq.ft) in Mumbai. Dhani in FY24 annual report said that the company has submitted building plans to the office of Directorate of Town & Country Planning (DTCP) for approvals of approximately 1.1mn sq ft of residential development saleable area in Sector 104, Gurugram, and for development of saleable area of approximately 0.26mn sq.ft. of office space in Worli, Mumbai. The company said it will be launching these projects at an opportune time.