100% Dividend: 2 Stocks To Turn Ex-Dividend Today For Rs 10/Share; Buy Any?

Computer Age Management Services Ltd (CAMS) and Info Edge (India) are the two companies which are going to ex-dividend today for their upcoming dividend payment for FY24. For FY24, both companies have announced an interim dividend of Rs 10 per share. According to data available on BSE, the ex-dividend falls on the same day as the record, which has been established by both companies for November 17th. This is because of the company's T+1 settlement process.

CAMS Dividend

The mid-cap financial services company has announced an interim dividend of Rs 10 per share for FY24 and has fixed 17th November as the record date.

On Thursday, the shares of Computer Age Management Services closed on the BSE at Rs 2838.05 apiece with an upside gap of 1.17%.

Commenting on the share price target of the stock, Mandar Bhojane-Equity Research Analyst at Choice Broking said, "CAMS is currently trading near Rs 2870. The stock recently broke out of a rounding bottom pattern with significant volume, indicating a strong bullish trend. A potential bullish scenario may unfold if the price manages to close above the Rs 2980 level, with near-term targets of Rs 3200 and Rs 3400 in sight. On the downside, immediate support levels can be identified at Rs 2500. The Relative Strength Index (RSI) is currently at 75 and trending upward, signalling increasing buying momentum. The Average Directional Index (ADX) stands at 21.5, further supporting the notion of a bullish trend. Moreover, the price is trading above the 50, 100, and 200-day Exponential Moving Averages (EMA), reinforcing the bullish sentiment."

"To prudently manage risk, it is advisable to set a stop-loss (SL) at Rs 2500 and consider buying on price dips around Rs 2700 and Rs 2600 levels. These precautions will help safeguard your investment in the event of an unexpected market reversal. In summary, considering the technical analysis and current market conditions, CAMS appears to present an attractive buying opportunity for those targeting a Rs 3400 price target, provided that appropriate risk management measures are in place," the analyst further added.

Info Edge

For the fiscal year 2023-2024, the Board has announced an interim dividend of Rs. 10/-per share (based on the face value of Rs. 10/-per share). Friday, November 17, 2023 will be the record date used for determining the name of the members eligible for receipt of the interim dividend. The dividend would be paid on November 29, 2023, or later.

Commenting on the share price target of Naukri, Ameya Ranadive CMT CFTe-Equity Research Analyst at Choice Broking said, "Naukri, currently trading at 4660, exhibits a promising technical profile, signaling potential for further gains in the market. The stock's recent performance has been marked by its ability to consistently close above key short, mid, and long-term moving averages (50, 100, and 200 EMA), indicative of a positive trend and bolstering investor confidence in its upward trajectory. The Relative Strength Index (RSI) at 71 reinforces this sentiment, placing the stock within a healthy range and alleviating concerns of overbought conditions. The Average Directional Index (ADX) stands at a robust 399, underscoring a reasonably strong trend and providing investors with the added assurance of Naukri's sustained positive momentum."

"A significant breakthrough in the range around 4500 establishes a crucial support level for the coming months, with a strategic "buy on dips" approach appearing favourable within the identified demand zone of 4565-4500. Naukri's compelling technical profile is further underscored by the Bollinger Bands, which have demonstrated a notable expansion. This expansion suggests a recent increase in market volatility, creating an environment conducive to potential price movements. The widened Bollinger Bands not only affirm the stock's current positive momentum but also indicate an enhanced scope for further upside," the analyst stated.

"With well-defined targets set at approximately 5000 - 5500 for the mid-term, based on the current technical setup, Naukri emerges as an appealing prospect for investors seeking potential growth. In summary, Naukri's impressive technical indicators, coupled with a clearly defined support zone, present an enticing opportunity for investors looking to capitalize on the stock's potential for sustained upward movement," Ameya Ranadive further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.