300% Dividend: Will Be Credited / Dispatched By 23rd August; New Investors Are Eligible?

Praj Industries is the first Asian and Indian firm to be ranked #1 globally in the 'Hottest Top 50 Companies in Advanced Bioeconomy' published by the US-based Biofuels Digest. Global Rank #34 in 2018 to #8 in 2019 and #1 in the world in 2024 is the trajectory of this ranking. Praj is a top firm in the world that offers a variety of sustainable bioenergy solutions. The shares of Praj Industries closed 0.24% higher at Rs 733.20 apiece, making a market value of Rs 13,477.18 Cr on Friday.

Praj Industries Dividend

"The Board of Directors at its meeting held on 30th May, 2024 has recommended final Dividend of Rs 6/- per share (300%) of face value of Rs 2/- each for the financial year 2023-24. The dividend is payable subject to shareholders' approval at the ensuing Annual General meeting (AGM). The final dividend pay-out, if approved by the shareholders in the ensuing AGM, will be around Rs 1102.879 Mn," said the company in a regulatory filing.

Praj Industries Dividend Payable Date

"The Company has notified closure of Register of Members and Share Transfer Books from Friday, the 19th July, 2024 to Thursday, the 25th July, 2024 (both days inclusive). The Dividend, if any declared, shall be payable to those shareholders whose names stand registered: a. As beneficial owner as at the end of business hours on Thursday, the 18th July, 2024 as per the lists to be furnished by National Securities Depository Limited and Central depository Services (India) Limited in respect of the shares held in the electronic form. b. As member in the register of members (Beneficiaries Position) of the Company / Registrar & Share Transfer Agent as at the end of the business hours on Thursday, the 18th July, 2024. c. The dividend on Equity Shares, if declared at the Meeting, will be credited / dispatched by 23rd August, 2024 before statutory time limit," Praj Industries said in its annual report.

Praj Industries Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "PRAJIND is currently trading at 733.15 levels, showcasing a robust technical outlook. The stock has achieved a significant breakout of a flag pattern on the daily chart at 700 levels, indicating bullish momentum. It is also trading above its short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMA levels, underscoring the underlying strength in the stock. On the downside, PRAJIND has strong support at 680 levels, which aligns closely with its 20 Day EMA. This level is expected to act as a solid foundation, providing stability and limiting potential downside risk."

"Investors currently holding the stock may consider booking partial profits at the current market price (CMP) of 733.15 while trailing their stop loss at 680 to protect gains. The target for the stock remains at 790 levels, reflecting the potential for further upward movement. For new investors, a prudent strategy would be to consider entering on dips near 700 levels, with a strict stop loss set at 680. This approach balances the potential for upside gains with a controlled risk, aiming for the target of 790 levels," the analyst recommended.

Disclaimer

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