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Chemicals Stock Sets Record Date For Dividend, Motilal Oswal Says Buy For Return Up To 49%
Leading chemicals stock, Galaxy Surfactants Ltd fixed February 20, 2023 as the record date for interim dividend for FY 2023. Brokerage firm, Motilal Oswal has recommended investors to buy Galaxy Surfactants with a target price of Rs 3504 apiece. If you buy Galaxy Surfactants now at the current market price of Rs 2347 apiece, you can receive a likely return of 49%. Check details below pertaining to the stock:
1. Galaxy Surfactants Ltd Sets Record Date For Interim Dividend
According to the BSE filing of the company, "Pursuant to the captioned regulation, it is hereby informed that a meeting of Board of Directors of the Company is scheduled to be held on Saturday, February 11,2023 inter alia to consider and approve:
(i) the Unaudited Financial Results of the Company (Consolidated and Standalone) for quarter & nine months ended December 31, 2022 and
(ii) (ii) interim dividend for the financial year 2022-23.
It is further informed that, the record date for the purpose of payment of interim dividend for the financial year 2022-23, if declared by the Board, would be Monday, February 20, 2023.
2. Galaxy Surfactants Stock Performance & Return
The last trading price of the stock is Rs 2342.60 apiece with intraday decline of 0.43%. The stock's 52-week high is Rs 3445.00 apiece and 52-week low is Rs 2302.00 crore.
The company has a market capitalisation of Rs 8,307.93 crore.
The stock rallied 46% in last 3-years, declined 26% in last 1-year, and fell 16% in last 3-months, and 3% in last 1-month.
3. Valuation
Motilal Oswal is bullish on Galaxy Surfactants and assigned buy call with a target price of Rs 3504 apiece. If you buy the stock now, you may get a potential return of 49%.
According to the analyst, "Management's focus on R&D (with an annual expenditure of INR400-500m) and an increased wallet share from its existing customers should drive volume growth and expand EBITDA margin. Although GALSURF plans an across-the-board expansion in its products, its focus will mainly be on the Specialty Care Products segment."
4. About Galaxy Surfactants
It is one of the leading players in the world of Surfactants and Specialty Care Ingredients exclusively focused on catering to the Home and Personal Care Industry. Founded in 1980, today Galaxy has five manufacturing plants in India and one in Egypt. The Corporate Office in Navi Mumbai also has a fully equipped Innovation Centre.
Disclaimer
The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.
