Rs 94/Share Dividend: Ex-Date In 2 Days On 2nd April; Buy The TVS Group Stock?

As of the closing session on March 28, 2024, TVS Holdings Ltd. has a market capitalization of Rs 16,508.37 Cr, making it a mid-cap business in the auto industry. Due to a hefty dividend of Rs 94 per share, the stock will be in the spotlight this week. The record date for this reason has been scheduled for April 2. The stock is scheduled to trade ex-dividend on the same date in two days due to the T+1 settlement cycle in India. One of India's largest companies for the production and sale of automobile components, TVS Holdings Limited (formerly Sundaram Clayton Limited) (TVSH) is a top provider of aluminum die castings to the automotive and non-automotive industries. The shares of TVS Holdings Ltd closed 0.64% higher at Rs 8159.50 apiece during its last trading session. The stock touched a 52-week-high of Rs 9,685.00 on (02/03/2024) and a 52-week-low of Rs 3,063.64 on (29/03/2023).

TVS Holdings Dividend

The Board of Directors of the company at its meeting held on Thursday, 21st March 2024, approved and declared an interim dividend of Rs. 94/- per share (1,880%) at a face value of Rs.5/- each fully paid up 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 2nd April 2024, being the Record Date fixed by the Company for this purpose," said TVS Holdings in a regulatory filing.

TVS Holdings News

"This is to inform you that the Trading Window for dealing in securities of the Company shall remain closed from 1st April 2024 in terms of provisions of SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended and the Company's Code of Conduct to regulate, monitor and report trading by Designated Persons. The Trading window shall remain closed until 48 hours after the declaration of audited financial results for the quarter and financial year ending 31st March 2024," said TVS Holdings in a regulatory filing on 29th March 2024.

TVS Holdings Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said TVSHLTD is currently trading at 8164.85 levels, having experienced profit booking from its all-time high of 9545. The stock finds robust support near 7729 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 fresh entry into TVSHLTD, it is prudent to await a reversal in the stock's price action. In the event of a breakdown below the mentioned support of 7729, the stock may witness further correction towards the 7550 level.

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 TVSHLTD'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.