Metals stocks 54% higher than 52-week low, check interim dividend date

With a market valuation of $171.12 Cr, Sarthak Metals Ltd. is a small-cap business operating in the industry. Sarthak has a sizable customer base all over India, supplying steel products to the leading steel producers in the country. The corporation has announced the provisional dividend rate of Re. 1 or 10% per equity share with par value of Rs. 10 per person for the 2021–2022 financial year. For the same purpose, a record date has been declared by the company to determine shareholder eligibility.

The company said in a stock exchange filing that its Board of Directors has “reviewed and declared an Interim Dividend at a rate of Re. 1/- (Rupees One) (10%) per Equity Share with Par value of Rs. 10/- per year for the financial year 2021-22. The interim dividend will be paid on or before January 19, 2023. In addition, in accordance with the provisions of Regulation 42 of the SEBI Regulations (Listing Obligations and Disclosure Requirements), 2015, Friday, December 30, 2022 has been set as the ‘Record Date’ to determine the list of members eligible to pay Interim Dividends.”

Shares of Sarthak Metals Limited today closed on the NSE at $level of 125.80 per person, down 1.83% from the previous closing level of $128.15. The stock recorded a total volume of 42,978 shares compared to the 20-day average volume of 45,217 shares. Sarthak Metals IPO has been launched with an issue size of $10.9 Cr and with an asking price of $30 per share and on March 27, 2017, the company listed shares on the stock exchange. The stock has increased in price by 3.24% in the past 5 years since the IPO. The stock is up 4.36% over the past year, and year-to-date, it’s up 3.54%.

Stocks hit a 52-week high of $169.00 on (September 15, 2022) and the 52-week low of $81.50 as of June 20, 2022, showing that at current market prices the stock is trading 25.56% below its 1-year high and 54.35% above its lowest in 1 year. For the quarter ended September 2022 or the second quarter of fiscal 2023, the company reported a promoter share ownership of 69.83% and a public shareholding of 30.17%. Sarthak Metals is a virtually debt-free company and over the past 5 years it has reported good revenue and profit growth.

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