Rs 7/Share Dividend: May 3 Fixed As Record Date; Buy The Large Cap Stock To Be Eligible?

As of Tuesday's BSE closing session, CRISIL, a large-cap financial services company, has a market valuation of Rs 34,230.43 Cr. Following the company's release of its first quarter financial results, which ended on March 31, 2024, the stock closed today 3.18% down at Rs 4681.55 per share.

CRISIL Dividend

The Board of Directors has approved the payment of an interim dividend of Rs. 7 per equity share of face value of Re 1 each, for the financial year ending December 31, 2024, which will be paid on May 14, 2024 for the purpose of which May 3, 2024 has been fixed as the record date, CRISIL said in a regulatory filing today.

CRISIL Results

During its meeting today, CRISIL's Board of Directors declared the unaudited financial results for the first quarter that ended on March 31, 2024. In comparison to the same quarter last year, when CRISIL's consolidated income from operations was Rs 714.9 crore, it climbed 3.2% to Rs 737.7 crore for the quarter that ended on March 31, 2024. Compared to the same quarter the previous year, when it was Rs 732.2 crore, the consolidated total income for the quarter that ended on March 31, 2024, jumped 3.6% to Rs 758.8 crore. The profit before tax for the quarter that ended on March 31, 2024, climbed 1.0% to Rs 195.5 crore from Rs 193.6 crore in the same period the year before. The profit after tax for the quarter that ended on March 31, 2024, was Rs 137.7 crore, 5.5% less than the profit of Rs 145.8 crore for the same period the previous year.

CRISIL Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said CRISIL is currently trading at 4680.8 levels, having experienced profit booking from its all-time high of 5268.5. The stock finds robust support near 4570 levels aligned closely with its 100-day Exponential Moving Average (EMA) levels., indicating potential buying interest at these levels. However, investors holding the stock from lower levels are advised to book profits, as the stock is now trading below its short-term (20-day) and medium-term (50-day) EMA levels.

For investors considering a fresh entry into CRISIL, it is prudent to await a reversal in the stock's price action. In the event of a breakdown below the mentioned support of 4570, the stock may witness further correction towards the 4275 levels.

This approach balances the potential for buying opportunities at key support levels while also recognizing the need for caution amid the stock's current downward trend. Investors should monitor price movements closely and adjust their strategies accordingly to navigate CRISIL's evolving market dynamics.

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.