1:2 stock split and dividend of Rs 8.85 per share proposed: India’s President leads a multibagger aerospace and defense stock with an order book worth Rs 20,070 crore!
The Indian stock market began the day on a positive note today, with the NSE Nifty-50 Index up 0.69 percent and the BSE Sensex Index up 0.66 percent. The indices were up on the larger markets, with the BSE Mid-Cap Index rising 0.39 percent and the BSE Small-Cap Index up 0.73 percent.
In addition to the green market, a multibagger stock in the aerospace and defense sector endorsed by the President of India saw a 2.35 percent increase to an intraday high of Rs 1,769.90 a share from its previous closing of Rs 1,729.25.
Let’s look at the most recent update from the company’s board of directors before revealing the stock name:
The company’s board of directors has approved a 1:2 stock split, meaning that the current 1 equity share, which has a face value of Rs 10 and is fully paid up, will be divided into 2 equity shares, which have a face value of Rs 5 each and are fully paid up. In addition, for the fiscal year 2023–2024, the Board has declared an interim dividend of Rs 8.85 per equity share of Rs 10 each, fully paid up. The interim dividend on equity shares will be paid on or before April 18, 2024, with April 02, 2024, set as the record date by the firm.
Bharat Dynamics Ltd. is the name of the stock (BDL).
Bharat Dynamics Ltd (BDL) is a Government of India firm that was founded in 1970 that produces weapon systems, missiles, and related equipment for the Indian Armed Forces. They produce surface-to-air missiles, air-to-air missiles, and undersea weapons. They are the Indian military’s only producer and integrator of missiles and torpedoes. BDL is always growing, adding new facilities and using new technology.
The largest shareholder is the President of India (74.93%), followed by FIIs (3.09%), DIIs (13.32%), and the general public (8.66%). As of January 2024, the company’s order book had a value of Rs 20,070 crore, and its market capitalization exceeded Rs 33,000 crore. The company posted consistent positive figures in its quarterly results (Q3FY24), half-yearly results (H1FY24), nine-month results (9MFY24), and annual results (FY23).
The stock of the corporation is valued at 70 times its book value, with a 12 percent return on equity and a 16 percent return on capital employed. From its 52-week low of Rs 879 per share, the company produced multibagger returns of above 100%, and in just three years, it yielded an astounding 424 percent return. This mid-cap aerospace & defense stock is one that investors should watch.
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