Record Paying Dividend of Rs 45: Record Date - 16 July; Buy The Mukul Agrawal Portfolio Stock?

MPS is a firm that provides superior learning and platform solutions. MPS is a top worldwide supplier of digital world platforms and content solutions. Listed on India's major stock exchanges, MPS has a market valuation of more than Rs 2,700 crores and it is a stock of Mukul Agrawal portfolio who owns 4.46% stake in the company. MPS is a dividend-paying company that has paid dividends for the previous five years in a row. However, for FY24, the company announced its highest payout ever, of Rs 45, setting a record high payment since its founding.

MPS Dividend

"The Board of Directors have recommended a final dividend of INR 45 per equity share of face value of INR 10/- each for the financial year 2023-24. The Final Dividend, if approved by the shareholders in the forthcoming Annual General Meeting (AGM) of the Company, shall be paid/ dispatched to the shareholders on or before 30 days from the date of AGM," said the company in a regulatory filing.

"The Register of Members and Share Transfer Books of the Company will remain closed from Wednesday, 17 July 2024 to Tuesday, 23 July 2024 (both days inclusive) for the purpose of the 54th AGM and payment of dividend. The "Cut- off" date for the purpose of determining the eligibility of the members to vote by remote e-voting at the 54th AGM and to receive the Final Dividend for the financial year 2023- 24, has been fixed for Tuesday, 16 July 2024," MPS informed to stock exchanges.

MPS Financials

In the quarter that ended on March 31, 2024, the firm generated revenue from operations of Rs 149.42 Cr, up 17.23% YoY from Rs 127.46 Cr in the same period of the previous fiscal year. In Q4FY24, MPS reported an EBITDA of Rs 42.8 Cr, which was -6.31% less than Q4FY23's Rs 45.64 Cr. The company's net profit dropped to Rs 28.71 Cr in the quarter under review from Rs 32.13 Cr in the same quarter last year, a drop of -10.64%.

MPS Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "MPSLTD is presently trading at Rs 1629, with the stock price fluctuating in the range of 1575 to 1615. It is anticipated to remain sideways within this range. If the price breaches the 1616 level, there is potential for it to further ascend to the 1750 level in the short run, while support is observed near the 1550 level. The Relative Strength Index (RSI) is currently at 52.66 and is trending sideways, indicating a significant sideways movement. The stock has shown resilience by rebounding from robust support at 1590, aligned closely with its 100-day Exponential Moving Average (EMA) levels. Significantly, it trades below 20-day and 50-day Exponential Moving Average (EMA), Indicating sideways move."

"The overall trend for MPS LTD is sideways to Bullish, supported by various technical indicators, reinforcing the optimistic outlook. Given these signals, there is a possibility for the stock to achieve a target price of Rs 1750 in the near term. It is advisable to consider buying on dips, particularly around Rs 1600, to capitalize on potential retracements in the stock price. To prudently manage risk, implementing a stop-loss (SL) at Rs 1550 is recommended. This precautionary measure is crucial to safeguard investments in the event of an unexpected market reversal," the analyst stated.

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.