PSU Stock To Consider Interim Dividend & 1st Ever Stock Split, Record Date Fixed; Buy?

Located in Mumbai, Mazagon Dock Shipbuilders Limited is a top shipbuilding yard in India, having achieved ISO 9001: 2015 certification. Since 1960, the PSU firm has constructed 802 vessels in total, including 28 warships for both domestic and international customers, ranging from sophisticated destroyers to missile boats, as well as 7 submarines. On Friday, the shares of Mazagon Dock Shipbuilders ended 6.86% higher on BSE at Rs 4531.30 apiece as the company declared that the Board of Directors is scheduled on Tuesday, 22 October 2024 to consider an interim dividend for FY25 and first-ever stock split.

Mazagon Dock Shipbuilders Dividend & Stock Split

"We hereby intimate the Stock Exchanges as per the provisions of Regulation 29 of the SEBI(LODR) Regulations, 2015, that a meeting of the Board of Directors of Mazagon Dock Shipbuilders Limited is scheduled on Tuesday, 22 October 2024, inter alia, to consider: a) Declaration of Interim Dividend for the financial year 2024-25 b) Sub-division/ Split of Equity Shares of the company pursuant to the provisions of section 61(1)(d) of the Companies Act, 2013," said Mazagon Dock Shipbuilders in a stock exchange filing.

Mazagon Dock Shipbuilders Record Date For Dividend

"Further, the Company has fixed the "Record Date" of Wednesday, 30 October 2024 for the purpose of payment of Interim Dividend on Equity Shares for the Financial Year 2024- 25, if declared by the Board," Mazagon Dock Shipbuilders informed stock exchanges.

Mazagon Dock Shipbuilders Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "Mazagon Dock Shipbuilders Ltd. (MAZDOCK) is currently trading at Rs 4,520. The stock has recently broken out of a falling trend line pattern, which typically signals a potential bullish reversal from a key support zone. This breakout is accompanied by a noticeable increase in trading volume, indicating strong buying interest and further validating the upward move. The Relative Strength Index (RSI) is at 57.66, suggesting that the uptrend is healthy with room for further growth."

"Additionally, MAZDOCK is trading above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), reinforcing the positive trend and confirming the strength of the current momentum. If the stock sustains levels above the critical resistance of Rs 4,550, it has the potential to move higher, targeting Rs 5,400 and Rs 5,500. A stop-loss can be placed at Rs 4,150 to manage downside risk. While the technical indicators point to a favorable setup, traders should remain cautious of potential short-term volatility," the analyst further recommended.

Disclaimer

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