Dividend Again! Tata Group Small Cap Stock Board To Meet On April 19, Rally 565% In 3-Yrs

Tatas Group hotel & resorts sector company Benares Hotels Ltd shares witnessed a stunning rally of 565% in last 3-years span. The company declared an equity dividend of Rs 20.00 per share in last 12 months. Now again Benares Hotels is expected to recommend dividend in its Board of Directors' meeting scheduled to be held on April 19, 2024. The stock is technically neutral and has a RSI of 41.3. BHL is reportedly a subsidiary of Indian Hotels Company Limited (IHCL), owned by Tata Sons. BHL announced Q3 results on Feb 1, 2024 wherein it declared its revenue at Rs 34.5 crore from Rs 28.6 crore in the corresponding quarter of last year. More details below:

Benares Hotels Plans To Recommend Dividend: As per the regulatory filing of the company dated April 10, 2024, "a Meeting of the Board of Directors of the Company is scheduled to be held on Friday April, 19, 2024, inter-alia, to take on record the Audited Financial Results of the Company for the quarter/ year ended March 31, 2024 and to recommend a final dividend, if any, on the equity shares of the Company for the financial year ended March 31, 2024 for the approval of the shareholders at the ensuing Annual General Meeting."

Benares Hotels Shares Performance & Return: The 52-week high price of Benares Hotels shares on BSE is Rs 10,051.00 apiece (as on 01/02/2024) and 52-week low price is Rs 3050.00 apiece (as on 28/03/2023). The small cap company has a market capitalisation of Rs 1125.38 crore. Benares Hotels shares declined 10% in last 3-months, gained 50% in last 6-months, soared 261% in last 2-years, and surged 452% in last 5-years.

Benares Hotels Dividend History: Benares Hotels Ltd. declared 22 dividends since August 14, 2001. In last 12 months, the subsidiary of The Indian Hotels Company Limited (IHCL) announced an equity dividend of Rs 20.00 per share. If the current market of 8656.80 per share is taken into consideration, Benares Hotels Ltd offers dividend yield of 0.23%.

Benares Hotels Q3 Results: BHL declared healthy results for the third quarter ending December 31, 2023. The company declared its revenue for FY 23/24 at Rs 34.5 crore as against Rs 28.6 crore declared in FY 23/24. The company announced EBITDA at Rs 16.7 crore for the quarter ended December 2023 as against Rs 12.7 crore reported in the corresponding quarter of last year. BHL declared its profit for the quarter under consideration at Rs 11.3 crore as against Rs 8.3 crore in the corresponding quarter of last year.

Benares Hotels Technical: Score is 59.98 indicating the stock is technically neutral. Stocks with score above 70 are considered as technically Strong and below 35 are considered weak. RSI is 41.3, RSI below 30 is considered oversold and above 70 overbought. MFI is 40.7, MFI below 30 is considered oversold and above 70 overbought.

About: Benares Hotels Limited is a listed public limited company incorporated in 1971. The Company operates its hotels, viz. Taj Ganges and Nadesar Palace in Varanasi and Ginger Hotel, Gondia in Maharashtra. The Company became a subsidiary of The Indian Hotels Company Limited in 2011. While Taj Ganges and Nadesar Palace at Varanasi has 144 rooms and suits, Ginger Hotel at Gondia has 34 rooms, according to its official website.

Disclaimer:

The stock highlights dividend 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.