Rs 4 Dividend By Miniratna PSU Stock: 22nd November Record Date; MSTC Share Price Target?

Under the administrative authority of the Ministry of Steel, Government of India, MSTC Limited is a Mini Ratna Category-I PSU. Offering e-commerce-related services to various industries is the company's main activity. In the e-commerce industry, MSTC Limited is a prominent Public Sector Undertaking (PSU). The firm has been providing cutting-edge e-commerce solutions for a variety of industries since 2002. Presently, MSTC offers a wide range of e-commerce services, such as e-auctions, e-sales, e-procurement, e-tenders, and more, in addition to specialised, tailored software solutions.

MSTC Dividend

The Board of Directors "Declared an Interim Dividend @ 40% i.e. Rs. 4.00 per equity share of face value of Rs .10/- each for the financial year 2024-25. The interim dividend shall be paid within 30 days from the date of its declaration. As per Regulation 42 of the listing regulations the Board has also fixed 22nd November, 2024 as the "record date" for the purpose of ascertaining the eligibility of shareholders for payment of Interim Dividend. The dividend will be paid to the shareholders within 30 days from the date of its declaration," said the company in a stock exchange filing.

MSTC Financials

In the September 2024 quarter, MSTC's net profit increased by 1.90 percent to Rs 56.39 crore, up from Rs 55.34 crore in the September 2023 quarter. In the quarter that ended in September 2024, sales fell 11.35% to Rs 71.92 crore from Rs 81.13 crore in the quarter that ended in September 2023. EBITDA decreased 27.96% from Rs. 85.65 crore in the September 2023 quarter to Rs. 61.70 crore in the September 2024 quarter.

MSTC Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "MSTC Ltd. is currently trading at Rs 607, exhibiting a strong bearish trend within a descending channel. The stock is under sustained selling pressure, indicating a potential continuation of the downtrend. This bearish outlook is further supported by a decline in trading volume, which suggests the likelihood of further price declines. On the upside, if the price manages to close above Rs 680, it could signal a trend reversal, with potential short-term targets at Rs 750 and Rs 800."

"Conversely, immediate support levels are at Rs 600 and Rs 570, presenting potential buying opportunities on dips. The Relative Strength Index (RSI) currently stands at 35 and is trending downward, indicating heightened selling pressure. Additionally, MSTC Ltd. is trading below both its 50-day and 200-day Exponential Moving Averages (EMAs), which underscores the prevailing downtrend," the analyst recommended.

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.