Rs 5 Dividend By Miniratna PSU Stock: 10th September Record Date; An Attractive Buy?

The Ministry of Steel, Government of India, has administrative authority for MSTC Limited, a Mini Ratna Category-I PSU. One of the top public sector undertakings (PSUs) in the e-commerce industry is MSTC Limited. The firm has been providing cutting-edge e-commerce solutions to a variety of industries since 2002. Currently, MSTC offers a wide range of e-commerce services, such as online tenders, e-auctions, e-sales, and e-procurement.

MSTC Dividend

"The Board of Directors of the Company has, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company, recommended final dividend of Rs. 5.00 per equity share, (i.e. 50 % on the paid-up equity share capital) for the Financial Year 2023-24. The final dividend would be paid within 30 days from the date of its declaration at the 59th AGM of the Company. The final dividend is in addition to the Interim Dividends paid for the financial year 2023-24," said the company in a stock exchange filing.

MSTC Dividend Record Date

"The Company has fixed Tuesday, 10th September, 2024 as the 'Record Date' for determining entitlement of members to receive final dividend for the FY 2023-24. The final dividend for the financial year 2023-24, if declared at the 59th AGM, will be paid within the stipulated time, to all those members whose names appear on the Company's Register of Members / Beneficial Owners as at the closure of business hours on Tuesday, 10th September, 2024 as on the 'Record Date'," MSTC informed stock exchanges.

MSTC Q1 Results

With net sales of Rs. 189.50 crore in the June 2024 quarter, the firm reported a 5.87% growth over the Rs. 179.00 crore in the June 2023 quarter. A 22.31% rise from Rs. 50.61 crore in Q1FY24 to Rs. 61.90 crore in Q1FY25 was recorded in net profit. EBITDA increased 3.06% to Rs. 89.92 crore in the June 2024 quarter from Rs. 87.25 crore in the corresponding FY23 quarter.

MSTC Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "The current trading price of MSTC LTD is Rs 836.10, showing a reversal sign from the support level with significant volume. The stock is near a consolidation range, with a significant resistance zone around Rs 870. If the price closes strongly above this level, it could potentially move up to Rs 900 and Rs 950 in the short term. On the downside, the nearest support is around Rs 800. The Relative Strength Index (RSI) is currently at 44.35 and trending upward, indicating a bullish reversal."

"To manage risk effectively, it is advisable to set a stop-loss (SL) at Rs 790 to protect your investment in the event of an unexpected market reversal. In summary, considering the technical analysis and current market conditions, MSTC LTD appears to be an appealing buying opportunity above the Rs 870 level for those targeting a price of Rs 900 and Rs 950, provided that appropriate risk management measures are implemented," the analyst added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.