Rs 160 Final & Rs 525 Special Dividend: 5th July - Record Date; Buy The Stock To Be An Eligible Shareholder?

With a market valuation of Rs 41,482 Cr, 3M India is a large-cap company in the diversified sector that is tracked in the BSE 200 index. The company is 3M Company USA's major Indian subsidiary. In addition to tamper-evident labels, 3M India's product portfolio includes consumer goods, adhesives, automobile fillers and coatings for industrial, transportation, electronics, healthcare, display and graphics, consumer and office, and safety and security markets. Major brands from 3M India include Command, Littmann, Post-it, Nexcare, Scotch-Brite, and Littmann.

3M India Dividend

"We would wish to inform that at the Meeting of the Board of Directors of the Company held today i.e., on May 28, 2024, the Board recommended a Final Dividend of Rs. 160/- and a Special Dividend of Rs. 525/- per equity share of Rs. 10/- each, for the financial year 2023-24, subject to approval of shareholders at the ensuing 37th Annual General Meeting (AGM), scheduled to be held on August 7, 2024. The Board of Directors have fixed July 5, 2024 (Friday) as the Record Date for determining the entitlement of the shareholders for the payment of aforesaid Dividends. The Final and Special Dividend, if approved shall be paid/dispatched to the shareholders within 30 days from the date of AGM of the Company," said 3M India in a stock exchange filing on May 28, 2024.

3M India Trading Window Closure Update

"This is to inform you that, in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended, read with the Company's Code of Conduct to Regulate, Monitor and Report Trading by Insiders, please note that the Trading Window for dealing in Equity Shares of the Company by the Promoters and Persons Acting in Concert, Directors, Designated Persons and their Immediate Relatives shall remain closed with effect from July 1, 2024 and the same shall reopen after 48 hours from the declaration of Unaudited Financial Results of the Company for the quarter ending June 30, 2024," the company informed stock exchanges on June 29, 2024.

3M India Share Price Target

KKunal V Parar - VP of Technical Research and Algo at Choice Broking said, "Based on the daily chart analysis, the stock is currently following an upward rising channel formation, indicating a positive trend. Additionally, the stock has remained consistently above its 100-day Moving Average, further supporting the bullish outlook. Furthermore, it is approaching uncharted territory, suggesting potential for additional upside if it breaches this level."

"The daily momentum indicator, RSI, is above the 50 mark, highlighting positive momentum in the stock. Based on these technical factors, we anticipate a strong upward movement in the stock, targeting levels between 38,950 and 41,300, with a strict stop-loss at 35,600," the analyst further added.

Disclaimer

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