Small Cap Multibagger Steel Sector Stock To Pay Dividend, Record Date Fixed

The small cap steel sector stock, Venus Pipes on Friday fixed September 18, 2023 as the record date for final dividend. Last trading price of Venus Pipes & Tubes share on BSE is Rs 1535.95 apiece. Venus Pipes stock witnessed a surge of 280% in last 1-year and gained 114% in last 6-months. Check details pertaining to dividend and stock outlook below:

Venus Pipes Sets Record Date For Final Dividend: According to the exchange filing of the company dated September 1, 2023, "fixed Monday, September 18, 2023 as the cut-off date for the purpose of final dividend and E-voting in connection with the Annual General Meeting of the Company scheduled to be held on September 25, 2023."

It is further informed that the board of directors of the Company have recommended a Final dividend of ₹ 0.50/- per equity share (10%) on par value of ₹ 10/- per share for the financial year ended March 31, 2023 to those members as on record date i.e. September 18, 2023 subject to the approval of members at the ensuing Annual General Meeting of the company. The dividend will be paid within 30 days from the date of AGM."

Venus Pipes Stock Outlook & Return: Last trading price of Venus Pipes share is Rs 1535.95 apiece on BSE. Venus Pipes shares hit 52-week high for four days in a raw i.e. from August 28 to August 31. The company has a market capitalisation of Rs 3117.38 crore. Its 52-week high price is Rs 1559.95 per share and 52-week low price is Rs 390.00 apiece, respectively. Venus Pipes shares witnessed a 23% surge in share in last 1-month, gained 40% in last 3-months, and offered shareholders return of 114% year-to-date (YTD).

Venus Pipes About: Venus Pipes & Tubes Limited is a manufacturer and exporter of stainless steel pipes and tubes. The company is manufacturing stainless steel tube products in two broad categories - seamless tubes/pipes and welded tubes/pipes under which five categories of products are manufactured namely, stainless steel high precision & heat exchanger tubes, stainless steel hydraulic & instrumentation tubes, stainless steel seamless pipes, stainless steel welded pipes and stainless steel box pipes. The company sells products in both domestic and international markets. Venus Pipes & Tubes exports its products to 21 countries including Brazil, the UK, Israel and countries in the European Union, etc.

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