Rs 30/Share Dividend: IT Stock To Turn 300% Ex-Dividend Next Week, Buy?

Accelya Solutions India Ltd is a small cap IT company with a market cap of Rs 2,367 Cr. Accelya is a leading global software provider to the airline industry. The stock is going to be in focus next week as the scrip is going to trade ex-dividend for 300%.

Accelya Solutions India Dividend

"The Company had declared and paid an interim dividend of Rs 35 per equity share during the year 2022-23. Your Directors are pleased to recommend a final dividend of Rs 30 per equity share for the financial year ended 30th June, 2023. The total dividend for 2022-23 is Rs 65 per equity share (previous year Rs 62 per equity share)," said Accelya Solutions India in a report.

The Board has fixed Friday, 6th October 2023 as the record date and the dividend payout date is Tuesday, 7th November 2023.
Accelya Solutions India has announced an equity dividend of 650.00% at a face value of Rs 10 or Rs 65 per share for the fiscal year ending June 2023. The dividend yield at the current share price of Rs 1585.70 is 4.09%. The company has a solid track record of dividend declarations during the past five years. According to statistics from Trendlyne, Accelya Solutions India Ltd. has declared 30 dividends since September 19, 2002.

Accelya Solutions India Financials

On a standalone basis, the company recorded a net sales of Rs 106.28 crore in the June 2023 quarter which is a rise of 16.35% from Rs. 91.35 crore in the June 2022 quarter. Its net profit was Rs. 29.40 crore in the first quarter of the current fiscal year, up 8.77% from Rs. 27.03 crore in the same period last year, and its EBITDA was Rs. 48.35 crore, up 7.56% from Rs. 44.95 crore in the same period the year before.

Accelya Solutions India Share Price Target

Deven Mehata, Equity Research Analyst at Choice Broking said, the stock has bounced from a strong support level at 1480. This suggests that there is significant buying interest in the stock at this price point, and it has the potential to act as a solid foundation for future price movements.

Secondly, the stock is currently trading at 1592.95, which is above important moving averages. This can be seen as a bullish signal, as it indicates that the stock is in an upward trend. Additionally, the ongoing volumes and upward movement of the stock suggest that there is momentum behind the price increase.

Furthermore, the Relative Strength Index (RSI) indicator is at a comfortable 60 level.

There is a smaller resistance level at 1641, which coincides with the recent top. If the stock manages to surpass this level, it may continue its upward trajectory towards 1750 levels and beyond.

Investors holding positions from lower levels are advised to maintain their positions with a stop loss at 1480, which is below the strong support level. This strategy helps protect gains while allowing for further potential upside. Additionally, any dips in the stock close to 1520 levels could be considered buying opportunities, as they align with the overall bullish sentiment.

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.