325% Dividend: Large Cap Auto Ancillaries Stock Sets Record Date, Deregisters Subsidiary

Large cap company operating in Auto Ancillaries sector, Bharat Forge Ltd today fixed July 05, 2024 as the record date for final dividend of Rs 6.50 per equity share having face value of Rs 2/- each for the financial year ended March 31, 2024. Current market price of Bharat Forge share on BSE is Rs 1606.90 per share with intraday gain of 3.33%. Bharat Forge shares surged 28% in last 1-month and gained 104% in last 1-year. The company has a market capitalisation of Rs 74,801.36 crore. More details below:

Bharat Forge Sets Record Date For Final Dividend: As per the regulatory filing of Bharat Forge dated June 3, 2024, "This is further to our letter dated May 08, 2024, wherein it was informed that the Board of Directors of the Company at its meeting held on Wednesday, May 08, 2024, had inter alia recommended final dividend of Rs. 6.50/- i.e. at the rate of 325% per equity share having face value of Rs. 2/- each for the financial year ended on March 31, 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting ("AGM") of the Company."

Pursuant to Regulation 42 of the Listing Regulations for the purpose of determining entitlement of members to final dividend for the financial year ended on March 31, 2024, the Company has fixed Friday, July 05, 2024 as the Record Date, added the BSE filing.

Bharat Forge Announces Deregistration of Subsidiary: As per the exchange filing of Bharat Forge dated June 3, "This is to inform you that an application made to the Australian Securities and Investments Commission (ASIC) for deregistration of Kalyani Strategic Systems Australia Pty Ltd ("KSSL Australia"), a wholly owned subsidiary of Kalyani Strategic Systems Limited ("KSSL"), has been duly approved and KSSL Australia has been deregistered with effect from May 26, 2024. KSSL is a wholly owned subsidiary of the Company."

Due to the inability to achieve its intended objective, KSSL Australia never commenced business activities, and therefore the deregistration process was initiated as per statutory regulations and in compliance with the applicable laws, added the BSE filing.

Stock Performance Of Bharat Forge: The 52-week high price of Bharat Forge share on BSE is Rs 1639.35 per share (as on 03/06/2024) and 52-week low price is Rs 785.55 per share (as on 02/06/2023). Bharat Forge shares gave return of 39% in last 6-months, soared 144% in last 2-years, and offered return of 130% in last 3-years. In last 5-years, Bharat Forge stock rallied 245%.

How To Be Eligible For Bharat Forge Dividend: Record date remains crucial role in determining eligibility of shareholders for receiving dividend. Individuals whose name appear in company's shareholders record as on the record date will become eligible to earn dividend announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. Bharat Forge fixed July 05, 2024 as the record date for final dividend.

About Bharat Forge: Bharat Forge Limited (BFL), the Pune based Indian multinational is a technology driven global leader in metal forming having transcontinental presence across eight manufacturing locations, serving several sectors including automotive, power, oil and gas, construction & mining, locomotive, marine and aerospace. Part of Kalyani Group with 10000 plus global work forces; BFL today has the largest repository of metallurgical knowledge in the region and offer full service supply capability to its geographically dispersed marquee customers from concept to product design, engineering, manufacturing, testing and validation, according to its LinkedIn page.

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