Breakout + Rs 7 Dividend: BSE 500 Auto Stock Signals Bullish Reversal; Are You In By 23rd April Record Date?

One of India's top suppliers of automotive components, CIE Automotive India Limited focuses on technologies such as forgings, castings, stampings, and more. The company in question is a division of the CIE Automotive Group, a Spanish enterprise. Using a variety of technologies such as forgings, castings, stampings, gears, composites, and magnetic products, CIE Automotive India provides a broad range of automotive components for the automobile industry, which includes tractors, passenger and commercial vehicles. Despite having its headquarters in India, CIE Automotive India has engineering and production operations throughout several nations, including Mexico, Spain, Lithuania, and Italy. As the BSE 500 auto stock approaches its record date of April 23 for a Rs 7 dividend, CIE Automotive India's shares finished Tuesday 2.65% higher on the BSE at Rs 412.10 a share, with a market capitalization of Rs 15,633.52 Cr.

CIE Automotive India Dividend

"We wish to inform you that the Board of Directors of your Company ("Board"), at its meeting held on 20th February, 2025, has recommended a dividend of Rs. 7 (Rupees Seven only) per equity share of the Company of face value of Rs. 10/- each, for the financial year ended 31st December, 2024, subject to the approval of the shareholders of the Company at the 26th Annual General Meeting (AGM) schedule to be held on 30th April, 2025," said CIE Automotive India in a stock exchange filing.

CIE Automotive India Dividend Record Date

"The Company shall deduct the tax at the rates specified in the Act, and for this purpose will use the information of shareholders as per data made available to the Company by National Securities Depository Limited and Central Depository Services Limited (in case of share held in demat mode) and the details recorded in the Register of Members of the Company maintained by the Registrar and Share Transfer agent of the Company i.e., KFin Technologies Limited (RTA/KFintech) as on 23rd April, 2025, being the date as on which the entitlement of shareholders for payment of dividend shall be determined," CIE Automotive India informed stock exchanges.

CIE Automotive India Dividend Payment Date

"The Dividend on the Equity Shares of the Company for the year ended 31st December 2024, as recommended by the Board of Directors and as may be declared at the ensuing AGM, will be paid within a period of 30 days from the date of the AGM to those Shareholders or their mandates," stated CIE Automotive India in a regulatory filing.

CIE Automotive India Share Price Target

"On the daily chart, the stock has witnessed a breakout above the upper band of the Falling Wedge pattern- a bullish reversal formation-indicating a potential trend reversal and suggesting upward momentum in the counter. Additionally, the stock is sustaining above its 20-day Moving Average, reflecting a strengthening short-term trend," commented KKunal V Parar VP of Technical Research and Algo at Choice Broking.

"Moreover, the Relative Strength Index (RSI) on the daily timeframe has shown a positive divergence, further reinforcing the bullish outlook and hinting at improving momentum. Based on this technical structure, we anticipate a potential upside move towards the 435-470 zone, with a strict stop loss at 383," commented the analyst.

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