Rs 5.15/Share Dividend: 4th April Fixed As Record Date; Buy TVS Group Stock?

Sundaram Clayton Limited (SCL) is a member of the TVS group, which is one of India's largest distributors and manufacturers of automotive components. SCL is a top provider of die castings made of aluminium for the automotive and non-automotive industries. The Board's announcement of an interim dividend on Tuesday has put the small-cap firm under the spotlight. In the latest trading session, the stock closed at Rs 1350.05 a share, giving it a market valuation of Rs 2,731.44 Cr. It reached a 52-week-high of Rs 1,775.00 on (12/01/2024) and a 52-week-low of Rs 1,219.00 on (14/03/2024).

Sundaram Clayton Dividend

"The Board of Directors of the Company at its meeting held today, declared an interim dividend of Rs. 5.15/- per share (103%) on 2,02,32,104 equity shares of Rs.5/- each fully paid up, absorbing a sum of Rs. 10.42 Cr, for the financial year ending 31st March 2024. The interim dividend declared will be paid to those shareholders, who hold shares in physical form and / or in electronic form and whose names appear in the Register of Members and / or Depositories respectively, as at the close of working hours on 4th April 2024, being the Record Date fixed by the Company for this purpose. The dividend payment will made within a period of 30 days from the declaration of interim dividend, as provided in the Companies Act, 2013," said Sundaram Clayton in a regulatory filing on 26th March 2024.

Sundaram Clayton Share Price Target

Sundaram Clayton Ltd is a SMALL CAP engaged in aluminium and magnesium castings for the automotive industry. With 52 weeks high at 1,783.75 and low at 1,203.90, currently trading at 1356. For the Short Term, trading is looking bullish and can buy at the 1320 to 1355 range and wait for a target at 1385 to 1450. Keep stop loss at 1300, said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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