Small Cap Metal Stock Recommends Dividend Of 200%, Shares Jumps 3.09%

The Board of Directors of Kalyani Steels Ltd. (KSL) on Friday, April 28, 2023, recommended a Dividend of Rs.10 per Equity Share i.e. 200% for the Financial Year 2022-23. The recommended dividend is subject to the approval of the members of the company, according to an exchange filing by the company.

KSL is a metal sector small-cap stock having a market capitalisation of Rs 1,448.19 crore. KSL was established in Feb 1973 in Pune as a part of the Kalyani Group, primarily with the objective of fulfilling the group's in-house requirements of forging quality steel.

The Board Recommended Dividend of Rs.10/- per share

"Board of Directors have recommended Dividend of Rs.10/- per Equity Share of Rs.5/- each (i.e. 200%), on the Equity Share Capital of the Company for the Financial Year 2022-23, subject to approval of the members," the company said in an exchange filing.

Stock's Current Market Price, Returns, 52 Week Low/High

On Friday, the share of Kalyani Steels last traded 3.09% higher at Rs 331.75 apiece. It hit its 52-week high at Rs 392 apiece on 22 December 2022 and 52-week low at Rs 263.10 apiece on 21 June 2022, respectively.

Shares jumped 4.19% in the past 1 week, and 17.25% in the past 1 month, respectively. It has given 7.17% positive return in 1 year, the highest 139.27% in 3 years and 2.84% in 5 years, respectively.

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