Stock To Split On May 24, Board To Consider Dividend Too: Multibagger Defence PSU Rises 5.80%

Board of Directors of mid cap defence public sector undertaking (PSU) Bharat Dynamics will convene meeting on May 30, 2024 to consider dividend for shareholders soon after splitting the stock in 1:2 ration on May 24 (record date for sub-division). Current market price of Bharat Dynamics Ltd share on BSE is Rs 1997.50 per share with intraday rally of 2.15%. Bharat Dynamics share zoomed 5.80% in last 1-week and gained 200% in last 2-years.

It is worth mentioning that Life Insurance Corporation Of India has 1.43% stake in Bharat Dynamics as the PSU insurer has 2,626,403 shares of the company. More details below:

Bharat Dynamics To Consider Results, Dividend: As per the BSE filing of Bharat Dynamics dated May 15, 2024, "a meeting of the Board of Directors of the Company will be held on Thursday, 30th May 2024, inter alia to consider and approve Audited Financial Results of the Company for the quarter and year ended 31st March 2024. It is also hereby notified that final dividend, if any, for the financial year 2023-24 may be considered at the aforesaid Board Meeting."

Bharat Dynamics Shares To Trade Ex-Split On May 24: According to the exchange filing of the company dated April 29, 2024, "we wish to inform you that, the Company has fixed Friday 24 May, 2024 as the Record Date for the purpose of determining the 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 Dividend In 2024: Earlier this year, Bharat Dynamics announced an interim dividend of Rs. 8.85 per equity share of Rs. 10 each fully paid-up for the financial year 2023-24. It fixed April 2, 2024 as "Record Date" for the purpose of payment of Interim Dividend on equity shares for the Financial Year 2023-24 and the payment of Interim Dividend will be completed on and before 18 April 2024."

Bharat Dynamics Dividend History: Bharat Dynamics announced 12 dividends since September 18, 2018. In the past 12 months, Bharat Dynamics announced an equity dividend amounting to Rs 10.05 per share. At the current share price of Rs 1996.3500, Bharat Dynamics offers a dividend yield of 0.50%.

Bharat Dynamics Shares Performance & Return: The 52-week high price of Bharat Dynamics shares on BSE is Rs 2097.70 (achieved as on 25/04/2024) and 52-week low price is Rs 901.00 apiece (as on 25/10/2023), respectively. Bharat Dynamics shares soared 16% year-to-date, zoomed 83% in last 6-months, rallied 96% in last 1-year, offered return of 200% in last 2-years, and gained 480% in last 3-years. Bharat Dynamics has a PE of 76.80, ROE of 14.13, and EPS (TTM) of 26.01, as per BSE data.

Bharat Dynamics Technical: Score is 67.0 indicating the stock is technically strong. Stocks with score above 70 are considered as technically strong. RSI is 61.7, RSI below 30 is considered oversold and above 70 overbought. MFI is 51.6, 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.