Stock To Buy: Small Cap Miniratna Dividend Stock Soars 49% In 3-Months, Brokerage Sees More Upside

Shares of small cap public sector undertaking (PSU) MSTC Ltd witnessed a rally of 49% in last 3-months and leading brokerage Nirmal Bang remains bullish on the stock. The analyst sees more upside in the PSU stock. Current market price of MSTC Ltd share is Rs 424.80 per share with intraday gain of 2.83%. If you buy MSTC share now at current market price, keeping target price of Rs 700 as per Nirmal Bang, you can fetch potential return of 65%. Check Details below:

MSTC Ltd Stock Outlook & Return: Current market price of MSTC Ltd share is Rs 424.80 apiece on BSE. Its 52-week high price is Rs 439.15 apiece and 52-week low price is Rs 235.00 apiece, respectively. Its market capitalisation is Rs 2990.59 crore. MSTC shares rallied 44% in last 6-months, gave 79% return in last 1-year, soared 44% in last 2-years, and offered return of 176% in last 3-years.

MSTC Ltd Financial Performance: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 232.37 crore, up 26.93% as compared to its last quarter total income of Rs 183.07 crore. The company in its latest quarter declared its net profit after tax at Rs 77.96 crore.

MSTC Ltd Dividend In 2023 & Dividen Yield: The Board of Directors of the Company on May 23, 2023 recommended a final dividend of Rs 3.20 per equity share, (i.e. 32 % on the paid-up equity share capital) for the Financial Year 2022-23. If the current share price of Rs 424.80 is taken into consideration, it offers a dividend yield of 3.81%.

Nirmal Bang Upbeat On MSTC Ltd: According to the analyst, "MSTC is making a rounding formation on the long-term chart with a major breakout above the Rs 380 levels. The stock is likely to move towards Rs 500 in the near term while it may touch Rs 700 in the long term."

MSTC About: MSTC Limited is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India. The company was set up in 9th September 1964 to act as a regulating authority for export of ferrous scrap with an investment of Rs 6 lakh, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Nirmal Bang. 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.