Rs. 5.15/Share Dividend: Record Date Is 4th April; Buy The TVS Group Stock For 103% Payout?

As of today's NSE closing session, Sundaram-Clayton Limited (previously known as Sundaram-Clayton DCD Limited) has a market capitalization of Rs 2,994.35 Cr, making it a small-cap company in the capital goods category. Part of the TVS Group, Sundaram-Clayton Limited is an Indian automotive components manufacturer with its headquarters located in Chennai. On March 18, 2024, the firm declared a dividend of Rs 5.15 per share, with a record date of April 4, 2024. This disclosure may draw market observers' attention tomorrow.

Sundaram Clayton Dividend

The Board of Directors of the company at their meeting held on Tuesday, 26th March 2024, inter alia approved and 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 NSE filing.

Sundaram Clayton Share Price Target

"Sundaram Clayton Ltd, a popular small-cap engaged in aluminium and magnesium castings for the automotive industry, recently witnessed some momentum in the market following gains. Previously, we recommended entering SUNCLAY within the 1320 to 1355 range and chasing the target of 1385 to 1450. Within a week, the stock managed to achieve the 10% target, benefiting those who had bet on it. However, now the question that concerns the traders is whether they should book profit or continue to hold the stock for some time. In this regard, I recommend holding the stock for the time being to generate more earnings while setting a trailing stop at 1345. The stock is currently trading at 1480, so for this time traders can set a target of 1550 to 1700 and track it for the next 6 months," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

"Sundaram Clayton is bearish on the Daily charts with strong resistance at 1521. A Daily close below support of 1425 could lead to a target of 1240 in the near term," said AR Ramachandran from Tips2trades.

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.