After a volatile session, right after NDA won the 2024 election, Miniratna PSU under the NBFC basket, Balmer Lawrie Investments' share price skyrocketed by nearly 11% for three consecutive trading sessions. Balmer Lawrie will be in focus for its first-ever stock split and highest-ever dividend payout of Rs 38 per share.
Balmer Lawrie Investments Share Price:
On June 7, the stock ended at Rs 806.55 apiece, up by 3.92% on BSE with a market cap of Rs 1,790.32 crore. The stock rose as high as 5.01% to hit an intraday high of Rs 815 apiece.
From June 5-7, the stock rallied by 10.71%.
YTD, the stock is up by 60%. In a year, the stock zoomed by 99%. But its all-time gain is a whopping 1,500.30%.
Balmer Lawrie Investments Dividend:
The PSU has recommended a dividend of a whopping Rs 38 per share on its 2,21,97,269 Equity Shares for FY24.
The said dividend, if declared by the Shareholders at the ensuing Annual General Meeting of the Company shall be paid within 30 days from the date of such declaration, it said.
This is the highest dividend by the company, and also the first dividend payout of 2024 for the company. In 2023, it delivered a dividend of Rs 7.50 per share. As per Trendlyne data, the company has distributed 23 dividends since September 4, 2001.
Balmer Lawrie Investments Stock Split:
The company's board has decided to split off its equity shares. However, the ratio, record date, and ex-split date are yet to be announced. This comes after a review of its compliance with the Guidelines on Capital Restructuring of Central Public Sector Enterprises for FY24.
This will be the first-ever stock split by Balmer Lawrie Investments.
Balmer Lawrie Investments Bonus Issue And Buyback:
In a board meeting on May 28, the board members also considered the options of buyback and bonus shares for Balmer Lawrie & Company. But decided to not go forward with these two options.
Balmer has a long history of rewarding its investors with free additional shares. The last bonus issue was of a 1:2 ratio in December 2019, which was followed by 3:1 bonus shares in December 2016, and 3:4 bonus shares in May 2013.
Balmer Lawrie Investments Ltd is a Government Company under section 617 of the Companies Act, 1956. The President of India is the major shareholder holding to the tune of 59.67% of its total paid-up Equity capital. Though being a Non-banking Financial Institution under the Reserve Bank of India Act, 1934, it does not carry any non-banking financial activity except holding Equity shares of its subsidiary Balmer Lawrie & Co. Ltd., transferred from IBP Co. Ltd. This Company was incorporated on 20 September 2001 under the Companies Act, 1956 and presently its Equity shares are listed with 'The Calcutta Stock Exchange Association Ltd.' and 'Bombay Stock Exchange Ltd'.
Balmer Lawrie Investments Ltd. does not have any employees, except, the Company Secretary, whose services have been seconded by Balmer Lawrie & Co. Limited. Infrastructure and all sorts of other services like taxation, accounts, finance, secretarial, legal, administration, etc. are obtained from Balmer Lawrie & Co. Ltd.
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