Rs 40/Share Dividend: Ashish Kacholia Stock At 52W High To Turn Ex-Dividend Soon: Buy?

Small-cap capital goods company Bharat Bijlee Ltd had a market cap of Rs 2,379.17 Cr on Friday during the closing session. A major Indian firm that specialises in electrical engineering is Bharat Bijlee (BSE: 503960, NSE: BBL). Power Transformers, Projects, Electric Motors, Magnet Technology Machines, Drives, and Industrial Automation Solutions are its main business sectors. The company was founded in 1946.

Power, refineries, steel, cement, railways machinery, construction, and textiles are just a few of the industries that the corporation serves, along with others that contribute to building the nation's infrastructure. According to information available on the BSE, the company has announced a sizable dividend of Rs 40 per share for the fiscal year that ended on March 31, 2023. Bharat Bijlee will begin trading ex-dividend on September 6, 2023.

Bharat Bijlee Dividend

"The Board of Directors of the Company, at its Meeting held on 26th May, 2023 have recommended dividend of Rs. 40/- (400%) per Equity Share of Rs. 10/- each for the financial year ended 31st March, 2023. This dividend will be paid, subject to approval of the Shareholders of the Company at the ensuing 76th Annual General Meeting (AGM) scheduled to be held on Thursday, 14th September, 2023," said Bharat Bijlee in a stock exchange filing.

Bharat Bijlee Financials

In a regulatory filing, the firm reported that its standalone net sales increased by 59.29% to Rs. 441.45 crore in the June 2023 quarter from Rs. 277.14 crore in the June 2022 quarter. Its net profit was Rs 25.33 crore in the first quarter of FY24, up 55.11 percent from Rs 16.33 crore in the same quarter of FY23, and its EBITDA was Rs 42.32 crore, up 45.78% from Rs 29.03 crore. From Rs. 28.89 in the same quarter of FY23, Bharat Bijlee EPS climbed to Rs. 44.83 in the June 2023 quarter.

Bharat Bijlee Share Price Target

"The script is trending in the Higher-High & Higher-Low formation. Along with Strongly sustaining above all its Moving Averages on the Daily Timeframe. Currently, the stock has given a breakout and sustained above its Ascending Triangle Chart Pattern with supportive volume. so as per trend and price pattern, we recommend that buying can be done and it can be added till 4095 for the targets of 4460 and our view will be negated only below 3910," said Kkunal Parar, Vice President · Choice Equity Broking Private Limited.
On Friday, the shares of Bharat Bijlee closed on the BSE at Rs 4209.75 apiece after making a fresh 52-week-high of Rs 4,387 during the afternoon deals.

Bharat Bijlee Shareholding

During Q1FY24, the company recorded promoters shareholding of 33.86%, FIIs stake of 1.68%, DIIs stake of 5.04% and public stake of 59.43%. In the said quarter ace investor Ashish Kacholia held 1,01,350 shares which is 1.79% of the total paid-up capital of the company.

Disclaimer

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