Business

Multibagger stock announces an interim dividend of Rs. 100 (1000%) per share

With a market valuation of 6,033.14 crore, Maharashtra Scooters Ltd. is a medium-sized corporation operating in the automotive industry. A subsidiary of Bajaj Holdings and Investment Limited, Maharashtra Scooters Limited is traded on the BSE as well as the NSE. The company’s current production activities are limited to the production of jigs, fixtures and pressure die castings, which are used mainly in the two- and three-wheeler industry. According to Value Research data, Maharashtra Scooters Ltd. As a debt-free company, this is very attractive. What is even more intriguing, however, is the company’s announcement of an interim dividend of Rs. 100 (10000%) per equity share with par value of Rs. 10 for the financial year ending March 31, 2023.

The company said in a legal filing that “This is related to our letter dated September 2, 2022, announcing a meeting of the Company’s Board of Directors scheduled for this date.” . has reviewed and declared an Interim Dividend of Rs. 100 (1000%) per equity share par value of Rs. 10 for the year ended September 13, 2022. Ending March 31, 2023. In addition, in accordance with Regulation 42 of the SEBI Listing Regulations, the filing date for the purpose of determining members eligible for Interim Dividends has been set to Friday. , September 23, 2022. The aforementioned Date Interim Dividends will be credited/deposited on or around Monday, October 10, 2022.”

Today’s NSE closing price for shares of Maharashtra Scooters Ltd was 5,262.20 bales, up 0.70% from the previous closing level of 5,225.65. If we take into account the interim dividend the company has announced, the dividend yield at current market prices rises to 1.90%. Stock prices have skyrocketed over the past 23 years, going up from 67.60 on January 1, 1999, relative to current market prices, represents multibagger returns and an all-time high of 7,684.32%. The stock has gained 91.54% over the past five years and 25.42% over the past three years. The stock has gained 19.83% in price over the past year and year-to-date, it is up 38.31% so far in 2022. On the NSE, the stock hit a 52-week high of 5,443.00 on September 15, 2022 and the 52-week low is 3,311.00 on (March 7, 2022), indicating that after hitting a 52-week high today, the stock was last seen trading 58.93% higher than its low at closing price. Compared to the 20-day average volume of 20,006 shares, a total of 46,977 shares were traded today.

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