All-Time High Dividend of Rs 16: Record Date In 1 Day On 28 June; Buy The Debt-Free Pharma Stock?

RPG Life Sciences is a debt-free pharmaceutical firm with a scientific foundation that serves both domestic and foreign markets in the areas of synthetic APIs, global generics, and branded formulations. It ranked seventh among the fastest-growing companies within the IPM's Top 75 in FY24. The RPG Group is a multinational conglomerate that operates in the energy, plantations, IT, infrastructure, tyres, pharmaceuticals, and venture capital sectors.

RPG Life Sciences Upcoming Dividend

"The Board of Directors at its meeting held on Tuesday, April 30, 2024 had recommended a final dividend of Rs.16 per equity share of Rs. 8.00 each of the Company for the financial year ended March 31, 2024 for approval by the Members at the Seventeenth Annual General Meeting (AGM) scheduled to be held on Tuesday, July 16, 2024 at 3.00 p.m. (1ST) through Video Conferencing (VC)/ Other Audio- Visual Means (OAVM)," said RPG Life Sciences in a regulatory filing.

"The Company has fixed Friday day, June 28, 2024 as the Record Date for determining the entitlement of Members for payment of Dividend for the Financial Year ended on March 31, 2024, if approved at the AGM," RPG Life Sciences has informed stock exchanges.

The above dividend payment is the highest-ever payout by RPG Life Sciences so far since its foundation, as per the data available on BSE.

RPG Life Sciences FY24 Key Performance Update

In the quarter that ended in March 2024, RPG Life Sciences' net profit jumped by 27.92% to Rs 13.24 crore, as compared to Rs 10.35 crore in the quarter that ended in March 2023. The jump in sales from Rs 118.49 crore in Q4FY23 to Rs 126.99 crore in Q4FY24 was 7.17%. In the year ending in March 2024, net profit climbed by 29.60% to Rs 87.66 crore from Rs 67.64 crore in the previous year ending in March 2023. Sales improved 13.50% from Rs 512.81 crore in FY23 to Rs 582.05 crore in FY24.

RPG Life Sciences Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "The current trading price of RPGLIFE is Rs 1551. The stock has recently been trading in a range of Rs 1500 to Rs 1600 on the daily chart, with a significant increase in trading volume, indicating a sideways trend. If the price manages to close above the Rs 1600 level, it may have the potential to reach short-term targets of Rs 1700. On the other hand, immediate support levels are located at Rs 1500, which can be considered as opportunities to buy on dips."

"The Relative Strength Index (RSI) currently stands at 59 and is trending upward, indicating a sideways trend. To prudently manage risk, it is advisable to set a stop-loss (SL) at Rs 1460. This precaution will help protect your investment in case of an unexpected market reversal. In summary, considering the technical analysis and the current market conditions, RPGLIFE appears to present an appealing buying opportunity for those aiming for a Rs 1700 price target, provided that appropriate risk management measures are in place," the analyst recommended.

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.