Smallcap, Bharat Bijlee share price has been on a winning streak since it declared the record date of its upcoming stock sub-division in the ratio of 1:10. The electrical stock has rallied by 10% in the six-consecutive session, while on April 9th it touched a new 52-week high of Rs 6,960 apiece on BSE.
Bharat Bijlee Share Price:
On BSE, Bharat Bijlee's share price extended its gaining spree and touched a new 52-week high of Rs 6,960 apiece during trading hours of April 9th, before ending at Rs 6,933 apiece up by 5%. Its market cap is at Rs 3,918.23 crore.
Bharat Bijlee's stock has been in green since April 2nd. Currently, the stock is up by a whopping 164.4% from its 52-week low of Rs 2,622 apiece, making it a multi-bagger.
Bharat Bijlee Stock Split:
On April 2nd, Bharat Bijlee's board of directors approved and fixed Wednesday, April 24, 2024 as the Record Date, to determine the eligibility of Shareholders of the Company, for Sub-division / Split of Existing 1 (One) Equity Share of the face value of Rs 10/- (Rupees Ten only) each, fully paid up, into 2 (Two) Equity Shares of the face value of Rs 5/- (Rupees Five only) each, fully paid up, ranking pari passu.
Accordingly, the stock split ratio is of 1:2. Here, the face value of Bharat Bijlee will be trimmed in half, while the number of shares will double in investors' portfolios.
Bharat Bijlee Dividend:
Apart from splitting, Bharat Bijlee has also announced its proposal to recommend dividends on equity shares for FY24. For this, the company's board will be meeting on May 17, 2024, to consider the recommendation.
Last year, Bharat Bijlee paid dividends up to 400% amounting to Rs 40 per share.
Currently, the company has a dividend yield of 0.58%.
Bharat Bijlee Q4 Results:
Apart from dividend recommendations, the board of directors will also consider the Q4 and full-year financial results for FY24.
In Q3FY24, the company posted net sales of Rs 423.74 crore versus Rs 419.82 crore in Q2FY24 and Rs 388.03 crore in Q3FY23. Its PAT also jumped to Rs 29.69 crore in Q3FY24 as against Rs 27.89 crore in Q2FY24 and Rs 23.09 crore in Q3FY23.
About Bharat Bijlee:
Bharat Bijlee is a pioneer in electrical engineering in India, and one of the most trusted names in the industry today. Established in 1946, the company has two primary business segments: Power Systems which comprises Transformers and Projects divisions, and Industrial Systems segment comprises Electric Motors, Drives & Industrial Automation and Elevator Systems divisions.
The company caters to a spectrum of industries and the builders of the nation's infrastructure: power, refineries, steel, cement, railways, machinery, construction and textiles. It also undertakes turnkey projects (switchyards) and is well-positioned to provide complete 'concept to commissioning' services.
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