Rs 9.25/Share Dividend: Motilal Oswal Suggests Mid Cap Stock To Buy, TP Rs 2050

Motilal Oswal has recommended investors to buy mid cap stock from financial services sector, Angel One and assigned a target price of Rs 2050 per share. Angel One shares offered return of 26% return in last 3-months and 24% return in last 6-months. Current market price of Angel One share is Rs 1604.85 per share with intraday fall of 6.16%. If you buy Angel One share at current market price of Rs 1604.85, you can fetch potential gain of 28% along with dividend income of Rs 9.25 per share. Check details below:

Angel One Recommended Dividend: As per the BSE filing of the company dated July 13, 2023, "The Board has declared 1" Interim Dividend for the Financial Year 2023-24 at the rate of Rs. 9.25/- per share on equity shares having face value of Rs. 10/- per share, as on the Record date."

Further, as already intimated, the Record Date for determining eligibility of shareholders for payment of the said Interim Dividend, as declared by the Board of Directors shall be Friday, July 21. 2023.

Angel One Stock Performance, Financial Performance & Return: Current market price of Angel One stock on BSE is Rs 1604.85 at 1:18 pm. The stock witnessed sharp decline of 6.16% intraday. Its 52-week high price is Rs 1803.35 per share and 52-week low price is Rs 1000.00 per share, respectively. Its market capitalisation is Rs 13,431 crore.

Angel One shares soared 25% in last 1-year and gave return of 26% in last 2-years.

The company for the quarter ended June 30, 2023 declared its consolidated total income at Rs 811.10 crore, down 2.40% from preceding quarter total income of Rs 831.09 crore. It announced its latest quarter net profit after tax at Rs 220.80 crore.

Angel One Valuation: According to Motilal Oswal in its report dated July 16, 2023, "We have cut our FY24/FY25 earnings estimates by 5.5%/3.8% to factor in some reduction in the number of F&O orders, leading to lower broking income from the derivative segment. We reiterate our BUY rating on the stock with a revised TP of INR2,050 (premised on 14x Mar'25E EPS)."

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.