Taparia Tools, a penny stock under iron and steel sector, walked away from the tide of extreme bears on June 4th trading session. Instead, the stock rallied to hit its 5% upper circuit and new 52-week high. The penny stock is set to reward investors with Rs 20 per share dividend soon, after it delivered whopping Rs 155 per share rewards in 2023. Taparia Tools has the highest dividend yield.
Taparia Tools:
On Tuesday, when market saw its biggest single-day fall, Taparia Tools share price froze at 5% upper circuit and touched a new 52-week high of Rs 4.27 apiece. Upper circuit means that there were no sellers in the stock.
The stock has more than doubled from its 52-week low of Rs 2.10 apiece on BSE. Taparia Tools trades on BSE.
Taparia Tools Dividend:
At the latest, the company has recommended final dividend of Rs 20/- (200%) per Equity share of Rs.10/- each from the Distributable Profit for the Financial Year ended 31% March 2024. The record and payment dates for the same is yet to be announced.
For FY24, the stock earlier paid up to Rs 20 per share dividend. Together, with the upcoming dividend, Taparia Tools will pay up to Rs 40 dividend per share for the fiscal.
As per Trendlyne data, Taparia Tools has paid up to 21 dividends since March 2002. It has delivered hefty rewards to investors. In 2023 alone, the company delivered Rs 77.50 per share each as final and interim, totalling to Rs 155 per share payout, the highest by the company.
On the current market price, Taparia Tools dividend yield is at 831.38%, highest in the penny stock and in general market.
Taparia Tools Bonus Issue:
Recently, the company also rewarded investors with 4:1 bonus shares. The ex-date was on July 11, 2023. The ratio meant that the company distributed 4 bonus shares for free on every 1 existing share.
About Taparia Tools:
TAPARIA TOOLS started manufacturing hand tools in 1969 in India in technical collaboration with a reputed company of Sweden. Taparia Tools has been since then consistently producing all the hand tools in India with the exact technology of its collaborators.
The Company's manufacturing facilities includes modern Forge shop, Machine shop, Heat treatment, Polishing, Nickel chrome plating and so on. The Company has a design and development department with latest CAD design facilities where all the designs of products and modifications there of and also fixtures and toolings are made. This includes the designs of forging - dies, machining fixtures, cutting tools like broaches, etc.
Taparia's range is quite wide and is continually expanding. The quality, the features, the looks, the packings etc., of tools is continually improved. All these Hand tools are manufactured in our two modern factories, which are having full manufacturing facilities at Nashik and at Goa. Nashik is situated around 190 km from Mumbai and Goa is around 600 km from Mumbai.
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