Stock To Split In 5-Days, Dividend Rewards: Defence PSU Hits Upper Circuit, 2nd 52-Week High

Mid cap defence public sector undertaking (PSU) Bharat Dynamics shares today hit 5.00% upper circuit and second consecutive 52-week high. Current market price of Bharat Dynamics share on BSE is Rs 2437.05 per share. Bharat Dynamics Ltd share continue to witness spurt in volume too. The PSU will hold meeting of its Board on May 30 to consider dividend and results. Bharat Dynamics shares will trade ex-split on May 24, 2024 as that it is the record date the PSU fixed on May April 29 for stock split/sub-division of shares in the ratio of 1:2. Bharat Dynamics shares offered shareholders eye-popping returns of 116% in last 6-months only and 240% in last 2-years span.

Life Insurance Corporation Of India has 1.43% stake in Bharat Dynamics as the PSU insurer has 2,626,403 shares of the company. The company has a market capitalisation of Rs 44,666.56 crore. The PE of Bharat Dynamics stood at 93.70. More details below:

Bharat Dynamics To Consider Results, Dividend: According to the exchange filing of aerospace & defence PSU as on May 15, 2024, Board of Directors of the Company will meet on May 30, 2024 to consider and approve financial results for the quarter and year ended 31st March 2024. Final dividend, if any, for the financial year 2023-24 may be considered at the May 30, 2024 Board Meeting.

Bharat Dynamics Shares Will Soon Go Ex-Split: Th BSE filing of the PSU as on April 29, 2024 confirmed May 24, 2024 as the record date to determine eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up.

Bharat Dynamics Order Win:

Bharat Dynamics Dividend In 2024: Bharat Dynamics declared an interim dividend of Rs. 8.85 per equity share of Rs. 10 each fully paid-up for the financial year 2023-24. It set April 2, 2024 as record date for interim dividend.
Bharat Dynamics Dividend History: Bharat Dynamics already declared 12 dividends since September 18, 2018. In last 1-year, Bharat Dynamics declared an equity dividend amounting to Rs 10.05 per share. At the current share price of Rs 2437.05, Bharat Dynamics offers a dividend yield of 0.41%

Bharat Dynamics Shares Performance & Return: The 52-week high price of Bharat Dynamics shares on BSE is Rs 2437.05 (as on 18/05/2024) and 52-week low price is Rs 901.00 apiece (as on 25/10/2023), respectively. Bharat Dynamics shares zoomed 31% in last 1-week only, gained 41% YTD, soared 127% in last 1-year, soared 608% in last 3-years, and rallied 820% in last 5-years.

Bharat Dynamics Technical: Score is 76.5 indicating the stock is technically strong. Stocks with score above 70 are considered as technically strong. RSI is 77.1, RSI below 30 is considered oversold and above 70 overbought. MFI is 71.8, MFI above 80 is considered strongly overbought. This implies that stock may show pullback. Number of FII/FPI investors decreased from 123 to 122 in Mar 2024 quarter, according to Trendlyne.

Bharat Dynamics Financials: Bharat Dynamics for the quarter ended December 31, 2023 declared its consolidated net profit at Rs 135 crore, up 61% YoY as against Rs 84 crore in the similar quarter of last year. Its revenue from operations rallied 30% year-on-year (YoY) to Rs 602 crore for Q3 FY2024 as against Rs 462 crore in the similar quarter of last fiscal. Its EBIDTA for the quarter under consideration surged by 32% to Rs 119 crore from Rs 90 crore in the last fiscal. Margin for Q3FY24 grew 19.8% against 19.5% in Q2FY24.

Bharat Dynamics Ltd About: Headquartered in Hyderabad, Bharat Dynamics Limited (BDL), was incorporated on 16 July, 1970 as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces. Since its inception, BDL has been working in collaboration with DRDO & foreign Original Equipment Manufacturers (OEMs) for manufacture and supply of various missiles and allied equipment to Indian Armed Forces.

Disclaimer:

The stock highlights the dividend, stock split and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.