This Engineering Stock To Pay 650% Special Interim Dividend, Shares Zoom 41% In 7 Days

Forbes & Company Ltd is engaged in three key businesses namely engineering, shipping and logistics and business automation. It manufactures precision tools and provides energy solutions. It also offers cutting tools under the brand name Totem. It is part of Shapoorji Pallonji Group or SP Group.

The Shapoorji Pallonji Group (SP Group) was established in 1865 in India. A globally diversified institution, the SP Group has a leading presence in the sectors of Engineering & Construction, Infrastructure, Real Estate, Water, Energy and Financial Services.

The stock of the company has gained nearly 41% in just 1 week as it has announced special interim dividend of Rs 65 per equity share or 650%. Check the key details below:

1. Forbes & Company Ltd Announces Special Interim Dividend of 650%

The board of directors in their BSE filing dated August 13 stated, "We wish to inform you that the Board of Directors of the Company at their meeting held on August 13, 2022 has approved payment of special interim dividend of Rs. 65 per equity share (650%) and pursuant to Regulation 42 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 has fixed Thursday, August 25, 2022 as the 'Record Date' for the purpose of ascertaining the shareholders who shall be eligible for receipt of special interim dividend."

2. Forbes & Company Ltd Stock Outlook

The current market price of the stock is Rs 566 apiece on BSE. The stock has gained 9.71% so far in today's trading (till 12:16 pm). The 52-week high of the stock is Rs 620 apiece and 52-week low is Rs 201 apiece. The company has a market capitalization of Rs 731 crore at the time of writing the story.

The stock has gained 41% in 1 week, 40% in 1 month, and 47% in 3 months. However, the stock has fallen 62% in 5 years, 66% in 3 years, and 80% in 1 year.

3. About Forbes & Company Ltd

The company has come a long way since inception, diversifying into several businesses and earning international acclaim. Its strengths lie in multiple domains such as manufacturing precision tools, marking and coding solutions, industrial automation solutions, water, and air purification systems, home security solutions, payment solutions, realty, and shipping.

Today, it has presence in more than 26 countries. Shapoorji Pallonji Group companies build mega-structures, develop multifaceted iconic landmarks, drive innovative technologies in water management, renewable energy, oil & gas and power, with a focus on good governance and sustainable development, to engineer a better planet.