1900% return in 2 years: This metal stock hits all-time high - Do you own it?

Shares of Dhatre Udyog on Tuesday surged around 5 per cent on Monday to hit an all-time high of Rs 234.95. Today was the third consecutive trading session when the scrip hit a lifetime high. The counter has risen around 17 per cent in the last four days.

Shares of Dhatre Udyog are trading higher than the 5-day, 20-day, 50-day and 100-day moving averages. 

As per Bombay Stock Exchange (BSE) analytics, the counter has given a positive return of 181 per cent this year. In the last two years, Dhatre Udyog shares made investors wealthier by over 1,979 per cent. 

Meanwhile, Dhatre Udyog, a TMT bars and secondary steel manufacturer company, has registered a rise of 59.60 per cent in profit in the second quarter of FY2024. According to an exchange filing, the board of directors of Dhatre Udyog Ltd considered and approved its July to September 2023 results in its meeting held on Monday. 

In Q2 results 2023, the revenue of the company from operations grew by over 165 per cent YoY from Rs 14.66 crore in Q2FY23 to Rs 38.92 crore in Q2FY24. Similarly, the company registered a 53.68 per cent YoY rise in EBITDA during the July to September 2023 quarter. 

"Profit After Tax (PAT) for Q2FY24 registered an impressive uptick of 59.60%, reaching Rs 192.14 Lakhs compared to Rs 120.39 Lakhs in Q2FY23," the company said in an exchange filing.