Small Cap Textiles Co. Recommends 50% Dividend, Stock Rallies 6.37%, Jumps 13.27% In 1 Week

RSWM Ltd. held in its Board meeting held on May 26, 2023, recommended a dividend on Equity shares at 50% i.e. Rs. 5/share of face value of Rs. 10 each for the financial year 2022-23.

RSWM Ltd. is an LNJ Bhilwara Group Company. The company is a textile manufacturer and exporter of Synthetic, Blended, Cotton, Mélange, and Specialty value-added yarns. It also manufactures Fabrics, Denim and Green Polyester Fiber.

It is a small-cap stock with a market capitalisation of Rs. 954.99 crore.

50% Dividend

In an exchange filing on May 26, 2023, the company said, "Recommendation of dividend on Equity Shares @ 50% i.e. Rs. 5.00 per share of the face value of Rs. 10/- each amounting to Rs. 23.55 crores for the financial year 2022-23, which shall be paid within 30 days from the conclusion of the Annual General Meeting, subject to the approval of the shareholders of the Company."

Stock Overview

On NSE, the stock of RSWM closed at Rs 202.75/share after rallying 6.37%. It traded the 52-week high on 22 August 2022 at Rs. 279.36/share and 52 week low on 28 March 2023 at Rs. 144/share, respectively.

The stock jumped 13.27% in 1 week, 14.48% in 1 month, and 23.59% in 3 months, respectively. It has fallen 52.37% in 1 year. It has given 176.98% positive return in the past 3 years. In 5 years, it has fallen 22.2%.

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