Bonus, Stock Split, Buyback, Dividend Next Week: Miniratna PSU Oil & Gas Stock Nears 1-Yr High, 140% Returns

Miniratna PSU company in the oil and gas sector, Balmer Lawrie witnessed bullish sentiment ahead of its board meeting next week where its directors will consider a host of rewards. To be precisely, Balmer is likely to announce buyback, dividend, stock split, bonus shares on May 28. Ahead of the meeting, Balmer has gained by over 100% in six months, and nearly 140% in a year.

Balmer Lawrie Share Price:

The is trading around Rs 314.30 apiece with market cap of Rs 5,374.65 crore, at the time of writing on BSE. The stock was near its intraday high of Rs 317.85 apiece.

So far, Balmer is just couple of rupees away from hitting its 52-week high of Rs 320.25 apiece. While the stock has more than doubled from its 52-week low of Rs 124.40 apiece.

In a month, Balmer shares jumped by 21%, while YTD, the stock is up by 41%. In a year, the stock rallied by a whopping 138.06% on BSE.

Balmer Lawrie Board Meeting:

The company's board of directors meeting is scheduled on May 28, 2024, for considering the following:

1. Consider the Audited Financial Results (both Standalone and Consolidated) of the Company for the Fourth Quarter and Financial Year ended on 31st March 2024 (subject to prior review by the Audit Committee of the Company).

2. Consider the recommendation of dividend on the Equity Shares of the Company for the Financial Year ended on 31 March 2024, if any, which subsequently upon declaration by the Shareholders at the ensuing Annual General Meeting would be paid to the Shareholders of the Company within 30 days from the date of such declaration.

3. Review of the compliance of Guidelines on Capital Restructuring of Central Public Sector Enterprises (CPSEs) by the Ministry of Finance, Department of Investment & Public Asset Management (DIP AM), in the course of which, analysis/deliberation regarding Buy back of shares, issuance of Bonus Shares and splitting of shares of the Company may also take place.

Founded by two Scotsmen, Stephen George Balmer and Alexander Lawrie, in Kolkata, Balmer Lawrie & Co. Ltd. started its corporate journey as a Partnership Firm on 1st February 1867. Traversing the 157 years gone by, today Balmer Lawrie is a Miniratna - I Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, Govt. of India.

Balmer Lawrie is a market leader in Steel Barrels, Industrial Greases & Specialty Lubricants, Corporate Travel and Logistics Services. It also has a significant presence in most other businesses, it operates, viz, Chemicals, Logistics Infrastructure etc. In its entire years of existence, Balmer Lawrie has been successfully responding to the demands of an ever-changing environment, leveraging every change as an opportunity to innovate and emerge as a leader in industry.

Balmer's upcoming dividend will be the first dividend of 2024 and FY24. Last year, the company delivered as high as Rs 7.50 dividend per share for FY23. So far, Balmer has delivered up to 23 dividends since September 2001, as per Trendlyne data.

Notably, Balmer has a long history of rewarding its investors with free additional shares. The last bonus issue was of a 1:2 ratio in December 2019, which was followed by 3:1 bonus shares in December 2016, and 3:4 bonus shares in May 2013.

However, the company has never split in its history. And if a stock split is announced on May 28, then it will be Balmer's first-ever split.