Rs 4, Rs 6, Rs 18 To Rs 100 Dividend: 4 Hot Stocks To Hit Ex-Date In 1 Day; Which Stock To Bet?

The four popular stocks-Cummins India, Saregama India, PI Industries, and Hero Motocorp-will trade ex-dividend in one day, on Wednesday, February 21. Based on their respective face values, Cummins India has announced a dividend of 900%, Saregama India has declared a dividend of 400%, PI Industries has declared a dividend of 600%, and Hero Motocorp has declared a dividend of 5000%. The record date for all of these firms is Wednesday, February 21st. As a result of India's T+1 settlement system, the stocks will trade ex-dividend on that day.

Cummins India Dividend

"The Board of Directors have approved and declared an Interim Dividend of Rs.18/- per equity share i.e. at the rate of 900% on 277,200,000 equity shares (Face Value Rs. 2/- each) for the Financial Year 2023-24. The Interim Dividend will be paid on or before March 06, 2024," said Cummins India in a regulatory filing. February 21, 2024 (Wednesday) has been fixed as the record date for the above-mentioned interim dividend for the FY 2023-24.

Cummins India Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said Cummins India Limited is currently priced at Rs 2665. The stock is exhibiting a strong bullish trend, trading above key exponential moving averages (EMAs) including the 20-day, 50-day, 100-day, and 200-day EMAs. This indicates a positive sentiment in the market towards Cummins.

The Relative Strength Index (RSI) is at a high level of 80, suggesting that the stock may be overbought in the short term. However, this does not necessarily indicate an immediate reversal, especially in the context of a strong uptrend.

The chart for Cummins shows a pattern of higher highs and higher lows, indicating a consistent upward trend. This pattern is a bullish signal and suggests that the stock is likely to continue its upward trajectory.

A buying strategy of purchasing Cummins on dips is recommended, with key support levels identified at 2600, 2545, and 2430. These levels are expected to act as strong support zones in case of any correction in the stock price.Investors are advised to buy Cummins near these support levels, with a stop-loss set at 2400, targeting the resistance levels of 2770 and 2860.

In conclusion, Cummins presents a compelling buying opportunity, supported by its strong technical indicators and bullish chart pattern. Investors should exercise caution and use the suggested support levels and stop-loss to manage risks effectively while aiming for the specified target levels.

Saregama India Dividend

The Board of Directors "Approved and declared an interim dividend of Rs. 4 per equity share (i.e. 400% on the face value of Re.1/- each) 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 closure of the business hours on Wednesday, 21st February, 2024, being the 'Record Date' to ascertain the eligibility of the Members to receive the said interim dividend," said Saregama India in a stock exchange filing.

Saregama India Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said SAREGAMA is presently trading at Rs 410. The stock displays a robust demand zone within the Rs 335 to Rs 305 range, serving as a critical support level. The establishment of new higher highs and higher lows suggests a potential upward movement, with projected targets at Rs 640 and Rs 700. Notably, substantial support is evident around Rs 305.

Moreover, SAREGAMA is trading above key Exponential Moving Averages (EMAs), including the 20-day, 50-day, 100-day, and 200-day EMAs, indicating a strong bullish momentum. The Relative Strength Index (RSI) stands at 63.9, affirming an upward trajectory and confirming increased buying momentum.

To effectively manage risk, it is advisable to set a stop-loss (SL) at Rs 325, safeguarding investments against unexpected market reversals. A prudent strategy involves considering buying opportunities during market dips at levels around Rs 360.

In summary, based on technical analysis and prevailing market conditions, SAREGAMA appears to offer a promising buying opportunity for those targeting price objectives of Rs 640 and Rs 700, contingent upon the implementation of prudent risk management measures.

PI Industries Dividend

"We wish to inform you that the Board of Directors of the Company at their meeting held today i.e. February 09, 2024, have declared an interim dividend of 600% i.e., Rs. 6/- (six) per equity share of Re. 1/- each for the financial year 2023-24 and the same shall be paid on or before March 05, 2024. Pursuant to Regulation 42 of the said regulations, the Company has fixed February 21, 2024, as the record date for the purpose of determining the members eligible to receive the interim dividend for the financial year 2023-24," said PI Industries in a regulatory filing.

PI Industries Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said PIIND, presently trading at 3670 levels, exhibits a positive trend on weekly charts with a consistent formation of higher highs and higher lows over the past three weeks. This pattern suggests sustained upward momentum and bullish market sentiment.

The stock's strength is reinforced by its positioning above key moving averages-the short-term (20 Day), medium-term (50 Day), and long-term (200 Day) Exponential Moving Averages (EMA). This alignment underscores the stock's favourable technical setup, indicating a robust uptrend.

The momentum indicator, Relative Strength Index (RSI), at 66.44 levels, reflects positive momentum in the stock. This reading, while not in overbought territory, indicates strength and supports the overall bullish outlook.
Investors holding positions from lower levels are advised to consider booking partial profits, a prudent strategy in capitalizing on gains. The remaining quantity can be held with a trailing stop loss set at 3450, in close proximity to the 200 Day EMA levels, ensuring protection against potential reversals.

On the upside, a small resistance near 3775 could pose a challenge. However, a successful breakout above this level could propel the stock towards all-time high levels of 4000 and beyond.

For fresh investors, buying on dips with the mentioned stop loss is a strategic approach, aligning with the positive technical indicators for PIIND.

Hero Motocorp Dividend

The Board of Directors considered and approved "Interim Dividend @3750%, i.e. Rs. 75 per equity shares and a special dividend @1250% i.e. Rs. 25 per equity shares, taking overall interim dividend @5000% i.e. Rs. 100 per equity share for the financial year 2023-24, marking the centennial year of Chairman Emeritus Dr. Brijmohan Lall Munjal. Accordingly, the Board has fixed February 21, 2024 as record date for determining entitlement of members for the purpose of payment of interim & special dividend. The payment of dividend / dispatch of dividend warrants will be completed by March 09, 2024," said Hero Motocorp in a stock exchange filing.

Hero Motocorp Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said HEROMOTOCO Limited is currently priced at Rs 4710. The stock is exhibiting a strong bullish trend, trading above key exponential moving averages (EMAs) including the 20-day, 50-day, 100-day, and 200-day EMAs. This indicates a positive sentiment in the market towards HEROMOTOCO.

The Relative Strength Index (RSI) is at a high level of 76, suggesting that the stock may be overbought in the short term. However, this does not necessarily indicate an immediate reversal, especially in the context of a strong uptrend.

The chart for HEROMOTOCO shows a pattern of higher highs and higher lows, indicating a consistent upward trend. This pattern is a bullish signal and suggests that the stock is likely to continue its upward trajectory.

A buying strategy of purchasing HEROMOTOCO on dips is recommended, with key support levels identified at 4510, 4230, and 4100. These levels are expected to act as strong support zones in case of any correction in the stock price. Investors are advised to buy HEROMOTOCO near these support levels, with a stop-loss set at 4000, targeting the resistance levels of 5180 and 5400.

In conclusion, HEROMOTOCO presents a compelling buying opportunity, supported by its strong technical indicators and bullish chart pattern. Investors should exercise caution and use the suggested support levels and stop-loss to manage risks effectively while aiming for the specified target levels.

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.