1:2 Split: Multibagger Electric Stock Sets April 24 As Record Date, To Recommend Dividend Too

Small cap company operating in the electrical equipment sector, Bharat Bijlee today fixed April 24, 2024 as the record date for 1:2 stock split. The company will split/ sub-divide 1 existing equity Share of face value of Rs 10/- each into 2 equity shares of face value of Rs 5/- each. The company will also recommend dividend at its upcoming meeting of Board of Directors scheduled to be held on May 17, 2024. Last trading price of Bharat Bijlee share on BSE is Rs 6342.45 apiece with intraday fall of 0.03%. Check details below:

Bharat Bijlee Sets Record Date For Stock Split: As per the regulatory filing of the company dated April 2, 2024, "Board of Directors of the Company, through a Resolution passed by circulation, has approved and fixed Wednesday, April 24, 2024 as the Record Date, for the purpose of determining the eligibility of Shareholders of the Company, for Sub-division / Split of Existing 1 (One) Equity Share of face value of Rs 10/- (Rupees Ten only) each, fully paid up, into 2 (Two) Equity Shares of face value of Rs 5/- (Rupees Five only) each, fully paid up, ranking pari passu in all respects which was approved by the Shareholders of the Company, through Postal Ballot on Thursday, March 21, 2024."

Bharat Bijlee To Recommend Dividend: According to the BSE filing of the company dated March 29, 2024, "Meeting of the Board of Directors of the Company is scheduled to be held on Friday, May 17, 2024, inter alia, to consider and approve:

Recommendation of Dividend on Equity Shares, if any, for the Financial Year ending March 31, 2024;

The Audited Annual Accounts of the Company, for the Financial Year 2023-2024 along with the Audit Report thereon;

The Audited Financial Results of the Company, for the Quarter and Financial Year ending March 31, 2024."

Bharat Bijlee Dividend History: Bharat Bijlee announced 19 dividends since August 1, 2001. In last 12 months, Bharat Bijlee announced an equity dividend of Rs 40.00 per share. At the current share price of Rs 6342.45, Bharat Bijlee's dividend yield is 0.63%, according to Trendlyne.

Bharat Bijlee Shares Performance & Return: The 52-week high price of Bharat Bijlee shares on BSE is Rs 6520.30 per share and 52-week low price is Rs 2514.00 per share, respectively. The company has a market capitalisation of Rs 3584.47 crore. Bharat Bijlee shares gained 26% in last 2-weeks, soared 150% in last 1-year, and offered attractive return of 260% in last 2-years. In last 3-years, Bharat Bijlee stock zoomed 465% in last 3-years.

Bharat Bijlee Quarterly Earnings: The company for the quarter ended December 31, 2023 declared its net profit at Rs 29.69 crore, up 28.58% as compared to Rs 23.09 crore in December 2022. The company's net sales announced at Rs 423.74 crore for December 2023 quarter, up 9.2% as against Rs 388.03 crore declared in the corresponding quarter of last year. Its EBITDA stood at Rs 48.57 crore for the quarter under review, up 22.31% from Rs 39.71 crore in the same quarter of preceding fiscal. The company's EPS soared to RS 52.54 in December 2023 from Rs 40.85 in December 2022.

Bharat Bijlee About: It is a pioneer in electrical engineering in India. Established in 1946, the company has two primary business segments: Power Systems that comprise Transformers and Projects divisions, and Industrial Systems segment comprising Electric Motors, Drives & Industrial Automation and Elevator Systems divisions. It caters to a spectrum of industries and the builders of the nation's infrastructure: power, refineries, steel, cement, railways, machinery, construction and textiles. It also undertakes turnkey projects (switchyards) and is well positioned to provide complete 'concept to commissioning' services, according to its official website.

Disclaimer:

The stock highlights the stock split and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.