125% Interim Dividend: Record Date On 22nd April; Buy The Energy Stock To Be Eligible?

As of Friday's closing session, Aegis Logistics, a mid-cap company in the energy sector, has left a market capitalization of Rs 16,872.57 Cr. Aegis Logistics Ltd. is the most prominent private player in India for LPG imports and handling, and it leads the country in integrated oil, gas, and chemical logistics. Aegis is a well-known Liquefied Petroleum Gas (LPG) parallel marketer with a strong presence in India. The shares of Aegis Logistics hit an all-time high of Rs 485 each on the BSE on Friday, after the company's record date for a 125% dividend. The shares wrapped up with an upside gap of 3.70% at Rs 480.70.

Aegis Logistics Dividend

"The Company is pleased to inform its shareholders that the Board of Directors of Aegis Logistics Limited ("the Company") at their meeting held on Wednesday, April 10, 2024 declared the payment of Interim Dividend of Rs. 1.25 per Equity share i.e. 125% on face value of Re. 1/- each for the financial year 2024-25. The said Interim Dividend will be payable to those members whose names appear in the Register of Members/ list of Beneficial Owners as provided by the Depositories i.e. National Securities Depository Limited (NSDL) and Central Depository Services (India) Ltd (CDSL) as on Monday, April 22, 2024 (Record date fixed for Interim dividend payment)," said Aegis Logistics in a regulatory filing.
The above interim dividend shall be paid on or before Thursday, May 09, 2024, according to the company.

Aegis Logistics Financials

On a standalone basis, the company reported revenue from operations of Rs 824.47 crore in the December 2023 quarter down 5.95% from Rs. 876.59 crore in the December 2022 quarter. Its net profit stood at Rs. 107.76 crores in Q3FY24 up 24.28% from Rs. 86.71 crores in Q3FY23. As per a stock exchange filing the quarterly EBITDA of Aegis Logistics reached Rs. 143.03 crore in the reported quarter which was Rs. 115.79 crore in the same quarter of FY23 representing a growth of 23.53% YoY. The company is yet to declare its Q4FY24 results.

Aegis Logistics Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said AEGISCHEM Ltd is currently trading at Rs 460.4 and has shown a strong rally from lower levels, forming higher high and higher low patterns.

The immediate support for AEGISCHEM Ltd is at Rs 428. closely aligned with the 20-day Exponential Moving Average (EMA), signifies historical buying interest and provides a foundation for the stock's price stability. This level serves as a potential stop for downward movements.

There is a good buying opportunity near the Rs 444 level for those looking to go long on the stock. If the price breaks the Rs 472 mark, stock can move towards 512 levels and higher.

For a cautious approach, buying on dips is suggested at Rs 444 with a stop-loss (SL) at Rs 428. The targets for this trade are Rs 512.

In summary, AEGISCHEM Ltd presents potential buying opportunities, but investors should closely monitor the stock's price movement and implement appropriate risk management strategies to protect their investments.

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.