Midcap Port Stock Fixes Record Date For Interim Dividend, Stock Up 9% In Trade

Gujarat Pipavav Port Ltd. announced an interim dividend of Rs. 2.70 per share, and fixed the record date on November 21, 2022, along with announcing a strong earnings report for Q2 FY23. The company's current market price on NSE gained by 8.72% and stood at Rs. 96.60 in trade today, after the dividend announcement. The company is India's first private sector port that operates an all-weather port located on the Southwest coast of Gujarat at a distance of 140 kms.

The company informed the stock exchanges, "Further, the Board of Directors have approved payment of Interim Dividend of Rs. 2.70 per share for the financial year 2022-23 and it is subject to applicable taxes. The Board has approved Monday 21st November 2022 as the Record Date to determine the Members eligible for receiving the Dividend amount. The dividend amounts are likely to be paid to the eligible Members by Thursday 1st December 2022."

Additionally, yesterday the company revealed that in Q2 FY23 its Revenue from operations gained to Rs. 2,272.61 million, from Rs. 2,081.26 million in the earlier quarter. The company's total income surged to Rs. 2,378.69 million, compared to Rs. 2,169.75 million in the previous quarter.

Stock performance

In the last 1 month the company's share price gained by 8.54%, in the past 6 months its share price gained by 14.39%, and in the last 1 year its share price has fallen by 15.04%. The 52-week high level of this stock is Rs. 115.90, and the 52-week low level of this stock is Rs. 70.30. The small-cap company has a market capitalization of Rs. 4,667 crore.

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