Record High Cash Dividend of Rs 8.50: To Be Paid Between 29th August - 21st September By Large Cap Stock; Buy?

Endurance is the largest aluminium die-casting company in India and a top producer of automobile parts. With a market valuation of Rs 38,347.51 Cr as of Friday's closing session, Endurance Technologies Ltd. is a large-cap automobile firm that appears in the BSE 500 index. The company has announced the highest dividend of Rs 8.50 per share since its founding, putting it front and centre for potential focus from market observers.

Endurance Technologies Dividend

The Board of Directors "Recommended dividend of Rs. 8.50 per equity share of face value of Rs. 10 each (85%), for the financial year 2023-24. The Twenty Fifth Annual General Meeting ("AGM") of the Members of the Company will be held on Friday, 23rd August, 2024. The Register of Members and Share Transfer Books will remain closed from 12th August, 2024 to 23rd August, 2024 (both days inclusive) for determining the shareholders entitled for the aforesaid dividend. The dividend, if declared by shareholders at the AGM, shall be paid on or after 29th August, 2024 but before 21st September, 2024," said Endurance Technologies in a regulatory filing.

Endurance Technologies Q1FY25 Result Date

"This is to inform that a meeting of Board of Directors of the Company is scheduled on Tuesday, 13th August, 2024 to inter alia, consider and approve the unaudited financial results (both standalone and consolidated), for the quarter ending 30th June, 2024," the company informed stock exchanges.

Endurance Technologies Share Price Target

"Endurance Technologies Limited, currently trading at Rs 2727.30, has delivered over a 64% return within a 1-year span. It operates as a leading auto-components company in India, with a market capitalization of Rs 38,673 crore, placing it in the mid-cap category within the auto ancillary sector. The company specializes in manufacturing aluminum die castings, suspensions, alloy wheels, transmissions, and braking systems for two, three, and four-wheeler original equipment manufacturers (OEMs). Financially, Endurance Technologies reports a P/E ratio of 56.35, almost double the sector P/E of 30.27. The return on equity is 10.87%, with a dividend yield of 0.26%. Over the past year, the stock has traded between Rs 1540 and Rs 3061 in its recent 52 weeks," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

"According to VLA Ambala, a SEBI-registered research analyst and founder of SMT Stock Market Today, Endurance Technologies presents a strategic investment opportunity. Ambala suggests considering buying the stock within the range of Rs 2450 to Rs 2520, with potential averaging opportunities between Rs 2350 and Rs 2300. She forecasts a target price ambitiously between Rs 2850 and Rs 3500, suggesting a strict stop loss at Rs 2150 to manage risks effectively. Ms. Ambala also advises investors to consider holding the investment for a duration ranging from 20 to 45 weeks. She notes that the price may see some volatility in the upcoming weeks, and averaging might be needed in this stock, taking into account the current market sentiment, which she notes as potentially overbought," she further added.

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.