175% Payout: Rs. 3.50 Dividend Declared, 19th March Is Record Date; Buy?

KEI Industries, with a market capitalization of Rs 27,735 Cr, is a large-cap firm in the capital goods category. House wires, cable wires, and flexible wires are all available from KEI Industries, a top supplier and manufacturer of electrical wires and cables in India. Its solutions serve customers in over 55 countries worldwide through a broad network of over 30000+ channel partners. A comprehensive range of cabling solutions is offered by KEI; it produces and distributes power cables with medium voltage (MV), low voltage (LV), and extra-high voltage (EHV). KEI has made a name for itself in the Engineering, Procurement and Construction (EPC) services sector as a one-stop shop for products and services that serve institutional as well as retail clients.

KEI Industries Dividend

"Pursuant to Regulation 30 and Regulation 43 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company has approved Declaration of Interim Dividend of Rs. 3.50/- (i.e. @ 175%) per Equity Share of face value of Rs. 2.00/- each for the Financial Year 2023-24. Further as per Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Record Date for the purpose of determining of the Equity Shareholders entitled to receive the interim dividend for the financial year 2023-24, has been fixed as Tuesday, the 19th day of March, 2024, which has been already intimated to Stock Exchange(s) vide letter dated 01st day of March, 2024 and to Shareholders through Newspaper Publication dated 02nd day of March, 2024," said KEI Industries in a stock exchange filing on 11.03.2024.

KEI Industries News

"Pursuant to Regulation 30 and Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, based on the recommendation of Nomination and Remuneration Committee and subject to the approval of Shareholders of the Company, the Board of Directors has approved the appointment of Dr. Rajesh Kumar Yaduvanshi (DIN No. 07206654), as an Additional Non-Executive Independent Director of the Company for his first term of five consecutive years w.e.f. March 11, 2024 to March 10, 2029," the company further added in the regulatory filing.

KEI Industries Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, KEI Industries Limited (KEI) is presently trading at 3185 levels, exhibiting distinct technical patterns that warrant careful consideration. The stock has established robust support levels in the range of 3100 and 3000, providing a foundation for potential upward movement. However, the current trading situation indicates short-term weakness as the stock is below its 20-Day and 50-Day Exponential Moving Average (EMA), suggesting caution for traders.

On the upside, KEI faces a formidable resistance zone around 3380-3400 levels. A successful breakthrough above this resistance could pave the way for an upward trajectory, targeting levels of 3650 and 3860 in the longer term. Investors who have been holding positions since lower levels are advised to consider booking partial profits and implement a trailing stop loss at 3000 levels.

For those contemplating fresh investments, it is prudent to await a clear reversal signal in the stock's performance before initiating new positions. This cautious approach aligns with sound risk management principles and ensures strategic decision-making in the dynamic market environment.

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.