Realty Stock Okays Interim Dividend, March 20 Fixed As Record Date; Buy?

In the closing session on Monday, AGI Infra Ltd., a small-cap real estate company, had a market cap of Rs. 1,140.61 Cr. Agi-Infra Limited is a massive real estate company that complies with ISO 9001-2008 and has received 5-star ratings from the Brickwork rating agency, which is governed by the RBI. The firm is a public limited corporation based in Jalandhar, Punjab, that develops commercial and residential projects. Since 2015, the company has been listed on the Bombay Stock Exchange. Its business section is varied, encompassing the hospitality and education industries.

AGI Infra Dividend

"We wish to inform you that Board of Directors of the Company at their meeting held today i.e Monday, March 11, 2024 at the registered office of the Company has inter alia Considered and declared an interim dividend of Re.1/- (Rupee One Only) (i.e 10%) per equity share of face value of Rs. 10/- each for the financial year 2023-24. The interim dividend will be paid to those Shareholders whose names appear in the Register of Members of the Company as on record date i.e March 20, 2024, already intimated vide our letter dated March 04, 2024. The interim dividend will be paid/dispatched to the Shareholders within 30 days from its declaration i.e on or before April 68, 2024," said AGI Infra in a stock exchange filing on 11.03.2024.

AGI Infra Financials

The company reported a net income of Rs 74.97 Cr in the December 2023 quarter compared to Rs 62.57 Cr in the December 2022 quarter. Its net expenses stood at Rs 55.15 Cr in the reporting quarter which was Rs 46.70 Cr in the same quarter of the previous fiscal. The company said its EBIT stood at Rs 19.81 Cr in Q3FY24 as against Rs 15.88 Cr in Q3FY23 whereas net profit reached Rs 14.92 Ct compared to Rs 12.22 Cr in the corresponding quarter of FY23 on a consolidated basis.

AGI Infra Share Price Target

AG Infra stock price is sideways to bearish with strong resistance at 1000 on the Daily charts. A daily close above this resistance could lead to a target of 1120 in the near term. Support will be at 931, said AR Ramachandran from Tips2trades.

Disclaimer

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