Rs 4.50/Share Dividend: Multibagger Power Stock Jumps 7.6% As Record Date Nears

Mid cap company from the integrated power utilities sector, CESC Ltd shares today rallied 7.6% in morning trade as record date is approaching near. Current market price of CESC shares on BSE is Rs 144.80 apiece with intraday rally of 4.14% at 10:31 am. CESC shares soared 100% in last 1-year and 71% in last 3-months. CESC shares also hit fresh 52-week high as well today. The company has a market capitalisation of Rs 19,181.00 crore. Check details below:

CESC Shares To Trade Ex-Dividend Soon: As per the BSE filing of the company dated January 19, 2024, "has declared an interim dividend @ INR 4.50/- per equity share (i.e., 450%) on the paid-up equity share capital of the Company payable to those members whose names appear in the Register of Members of the Company, or, will appear as beneficial owners (as per particulars furnished by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited) at the close of the business on February 1, 2024, being the "Record Date" to ascertain the eligibility of members to receive the said interim dividend."

CESC Q3 Results: The company announced a fall of 10% in its net profit at Rs 301 crore the December quarter amid soaring expenses. The company's consolidated net profit was declared at Rs 336 crore for the corresponding quarter of last year, BSE filing showed. CESC's total expenses surged to Rs 3,497 crore for the quarter under review from Rs 3,141 crore in the year ago period. It stated its total income surged to Rs 3301 crore for December quarter as compared to Rs 3,224 crore an year ago.

CESC Ltd Stock Performance & Return: The 52-week high price of CESC Ltd stock on BSE is Rs 149.90 per share and 52-week low price is Rs 62.25 per share, respectively. CESC shares gained 92% in last 6-months, surged 71% in last 2-years, rallied 137% in last 3-years, and gave shareholders return of 110% in last 5-years.

It is worth mentioning here that CESC gave approval to the appointment of Mr. Arjun Kumar, as a Non-executive Director in the category of an Independent Director of the Company, for a term of five (5) years with effect from January 19, 2024. Arjun Kumar is not related to any Director of the Company and satisfies the criteria of independence as prescribed under the Companies Act, 2013 and SEBI LODR.

CESC Ltd About: We are the sole distributor of electricity within an area of 567sq km of Kolkata, Howrah and adjoining areas and serve 3.4 million consumers which include domestic, industrial, and commercial users. We own & operate two thermal power plants in our licensed area generating 885 MW of power, according to the company's website.

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