Rs 4/Share Dividend: 1 Healthcare & 1 FMCG Stock To Turn Ex-Dividend Tomorrow For 200%; Buy Any?

Metropolis Healthcare Ltd and United Spirits are the two stocks that are going to trade ex-dividend tomorrow 17th November for 200%. Metropolis Healthcare Ltd is a mid-cap company in the healthcare sector and United Spirits is a large-cap company in the FMCG sector both of which have declared an interim dividend of Rs 4 per share in FY24. Both the companies have fixed 17th November as the record date for the purpose of dividend and due to the T+1 settlement process of the country the stocks are going to trade ex-dividend tomorrow.

United Spirits

The Board of Directors have approved "Payment of interim dividend of Rs. 4 per equity share (face value Rs. 2/- each) for the financial year ending 31st March 2024. The record date for the purpose of determining the entitlement of the shareholders of interim dividend has been fixed as Friday, 17th November 2023. The interim dividend declared will be paid on or after 4th December 2023," said United Spirits in a stock exchange filing.

KKunal V Parar, Vice President - Technical and Algo at Choice Broking said, "On the daily chart, the stock has consistently maintained a position above its 100 Days Moving Average, signalling a favourable trend in the current period. Additionally, it has been exhibiting a positive pattern within an upward-rising channel formation, indicative of a continuous trend with potential for further upward movement within the confines of the channel. Notably, the stock is navigating uncharted territory, accompanied by above-average trading volume. This suggests a shift in the stock's rhythm to a new level, emphasizing increased market interest and potential momentum."

"The daily momentum indicator, MACD, is notably trending above its zero line. This implies a robust strength in the stock, supporting the notion of a sustained positive trend. Considering the outlined technical structure, we anticipate a promising upward trajectory with a potential target range between 1110 and 1200. On the downside, support is expected at 990.00, providing a reference point for potential retracements," commented the analyst on the outlook of the share price target of United Spirits.

Metropolis Healthcare

The Board of Directors have "Approved and Declared payment of an Interim Dividend at the rate of lNR 4/-(Indian Rupees Four Only) per Equity Share on the Face Value of INR 2/-(Indian Rupees Two Only) per Equity Share for the Financial Year 2023-24. The Board has fixed Friday. November 17, 2023 as the "Record Date" for the purpose of ascertaining the eligibility of the shareholders for payment of Interim Dividend. The Interim Dividend will be paid to the shareholders within 30 days of declaration," said Metropolis Healthcare in a regulatory filing.

KKunal V Parar, Vice President - Technical and Algo at Choice Broking said, "Examining the daily chart, the stock has successfully broken out of the Upper Band of a Rising Wedge formation, signalling a positive trajectory for the counter. Furthermore, it has consistently found support at its 100 Days Moving Average, affirming the presence of a favourable trend in the stock. Zooming out to the weekly chart, a significant development is the breakout of the neckline in the Cup and Handle formation, suggesting a substantial upward potential for the stock."

"The daily momentum indicator, MACD, not only maintains a position above its Zero line but also exhibits a positive crossover. This confluence of factors indicates a robust positive trend with notable strength in the counter. Given this technical structure, our forecast anticipates a noteworthy upward movement in the stock, potentially reaching the level of 1820. On the downside, a support level is identified at 1500.00, providing a reference for potential retracements," the analyst added on the outlook of the share price target of Metropolis Healthcare.

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.