Small Cap Stock Auto Ancillaries Jumps 10.98% After Board Fixes Record Date For Dividend

The shares of Hindustan Composites Ltd. on Monday surged 10.98% to hit new 52-week high at Rs 494.10 per share after the company's Board fixed the record date for the Dividend.

On May 26, 2023, the board of directors recommended the payment of dividend on Equity Shares of Rs 5/- each @ Rs 2/- per share for the financial year 2022-23. The dividend is subject to approval at the AGM by shareholders of the company.

According to the Board of Directors of the company, "the Register of Members & Share Transfer Books will remain closed from Saturday, 23rd September, 2023 to Friday, 29th September, 2023 (both days inclusive) for the purpose of the 59th Annual General Meeting and payment of dividend for the financial year ended 31st March, 2023, if declared at the ensuing 59th AGM."

"the divided for the financial year ended 31st March, 2023 will be paid to those shareholders, whose names stand on the Register of Members / List of Beneficiaries as on the cut-off date i.e. Friday, 22nd September, 2023," the Board said in a filing.

In another filing on May 26, 2023, the Board of Directors said, "Recommended the payment of dividend on Equity Shares of Rs. 5/- each @ Rs. 2/- (Rupees Two only) per share for the financial year ended 31st March, 2023, subject to approval of the shareholders in the ensuing Annual General Meeting of the Company. The dividend, if approved at the ensuing Annual General Meeting of the Company, shall be paid/dispatched within 30 days of ensuing Annual General Meeting. The date of Annual General Meeting will be intimated in due course of time."

Hindustan Composites' shares on Monday closed at Rs 470.45, after hitting new 52-week high on the BSE. It hit an intraday high of Rs 494.10 per share and an intraday low of Rs 439.55 per share.

It gained 12.74% in 1 week, while in 1 month, it gained 26.45%. In 6 months, it gave 72.07% robust return. In 1 year, it gave 52.22% positive return, while in 3 and 5 years, it gave 147.21% and 22.05% positive returns.

Its 52-week high is Rs 494.10 per share and 52-week low is Rs 236.75 per share on the BSE.

Hindustan Composites Limited is an Auto Ancillaries company engaged in the development, manufacture & marketing of Friction Materials in India comprising of Brake Lining, Clutch Facing, Disc Brake Pad, Roll Lining, Brake Block etc., It is a small cap company with a market cap of Rs 694.81 Crore.

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