Rs. 4 Dividend: October 26 Record Date; Dalmia Bharat Share Price Target?

Dalmia Bharat is a leader in key sectors including sugar and cement. The group's sales have increased over the past ten years at a CAGR of 16% in FY24, and at the end of FY24, the market cap had increased to Rs 39,250 Cr. The firm, a well-known Indian corporation with its headquarters in New Delhi, was founded in 1939. It boasts leadership in industries like sugar and cement.

Dalmia Bharat Dividend

The Board of Directors "Declared interim dividend at the rate of Rs. 4/- (200%) per equity share on 18,75,47,629 equity share of Rs. 2/- each for the financial year 2024-25. Confirmed the Record Date i.e. Saturday, October 26, 2024, for determining entitlement of shareholders for payment of interim dividend for Financial Year 2024-25 pursuant to Listing Regulations," said the company in a stock exchange filing.

Dalmia Bharat Financials

For the second quarter that ended of the current fiscal on September 30, 2024, Dalmia Bharat Ltd reported a 60.5% YoY fall in net profit at Rs 49 crore. Dalmia Bharat reported a net profit of Rs 124 crore during the corresponding quarter of the previous fiscal, the company said in a regulatory filing. Compared to the same period of the previous fiscal year, when it was Rs 3,153 crore, the business's revenue from operations dropped by 2.1% to Rs 3,087 crore in Q2FY25. Compared to Rs 593 crore during the same time in the previous fiscal year, EBITDA decreased by 26.8% to Rs 434 crore in the second quarter of the current fiscal year. In the quarter under review, EBITDA margin was 14.1%, down from 18.8% in Q2FY24.

Dalmia Bharat Share Price Target

KKunal V Parar - VP of Technical Research and Algo at Choice Broking said, "On the daily chart, the stock has recently found support at the lower band of its upward rising channel, indicating a potential bounce back. However, it has encountered significant resistance at the 100-day moving average, suggesting some weakness in the current trend. Conversely, the weekly chart shows strong support from a horizontal trend line, reinforcing the possibility of a rebound. Additionally, the daily RSI is holding above a rising trend line, which points to positive momentum. Based on this technical analysis, we expect a potential upside target of 1930 to 2020, with a strict stop-loss set at 1750."

Disclaimer

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