Rs 22/Share Dividends: Balkrishna, Happiest Minds, 6 Other Stocks To Trade Ex-Dividend From October 30-31

A total of eight stocks will be in focus on the last two trading sessions of October month which are the 30th and 31st as these shares will trade ex-dividend for dividend payout ranging from Re 1 per share to a whopping Rs 22 per share. These stocks were included in both smallcaps and midcaps baskets broadly, and the majority of them were in green ahead of ex-dividend. All of the eight companies have declared their Q2FY24 earnings.

These stocks are Happiest Minds Technologies, Ramkrishna Forgings, Balkrishna Industries, Dr Agarwals Eye Hospital, Elecon Engineering, Sasken Technologies, Styrenix Performance Materials, and TIPS Industries.

Dividends are generally distributed in a certain proportion by listed companies from their net profits earned in a respective financial year. Dividends are among many rewards that are paid for holding equity shares. Other incentives are bonus issues and also stock split benefits.

Meanwhile, the ex-dividend date is the day when the price of the equity share of the listed company gets adjusted for the dividend payout.

Stocks To Trade Ex-dividend On Monday, October 30th:

1. Ramkrishna Forgings:

The company declared 1st interim dividend of Re 1 per share having a face value of Rs 2 each for the financial year FY24. It fixed October 30 as the record date for payment of the 1st Interim Dividend for the Financial Year 2023-24 to be paid to the eligible shareholders. Hence, the stock will trade ex-dividend on October 30th as well.

The company plans to pay the dividend within 30 days from the date of declaration. The same is subject to TDS.

In Q2FY24, the company posted a consolidated net profit of Rs 82.2 crore as against Rs 67.23 crore in Q2FY23 and Rs 78.53 crore in Q1FY24. Revenue from operations stood at Rs 981.49 crore in the quarter, as against Rs 824.44 crore in Q2 of FY23, and Rs 892.33 crore in Q1FY24.

Ahead of the ex-dividend date, Ramkrishna Forgings' share price stood at Rs 615.95 apiece, up by 2.2% on BSE after market hours of Friday's trade. The smallcap's m-cap stood at Rs 9,848.40 crore.

2. Happiest Minds Technologies:

This software consulting firm, Happiest Minds Technologies declared an interim dividend of Rs 2.50 per share having a face value of Re 2 each for FY24. The record date for the interim dividend has been fixed on October 30, 2023, and the dividend will be paid on and after November 13, 2023, to the equity shareholders of the Company whose names appear in the Register of Members of the Company or the records of Depositories as beneficial owners of shares as on the aforesaid record date.

Hence, Happiest Minds share price will trade ex-dividend on October 30th as well.

In Q2FY24, the company's net profit fell by 1.6% YoY to Rs 58.46 crore. However, revenue from operations stood at Rs 406.62 crore, up by 14.4% YoY and 4% QoQ. Notably, the company's EBITDA came in at Rs 104.82 crore, up by 11.1% YoY and 1.8% QoQ in the quarter.

On October 27th, Happiest Minds' share price stood at Rs 832 apiece, up by 2.24% with a market cap of Rs 12,669.26 crore on BSE.

Stocks To Trade Ex-Dividend On Tuesday, October 31:

3. TIPS Industries:

This small-cap stock will pay a second interim dividend of Rs 2 per share on the fully paid-up equity shares of the face value of Re 1/- per share. In percentage terms, the dividend payout is 200%.

The company fixed October 31, 2023, as the Record Date towards payment of the second Interim Dividend. The Interim Dividend will be paid on or before November 15, 2023.

Tips Industries Limited is a leading Indian music label which creates and monetizes music. During Q2FY24, the company's net profit of Rs 39.7 crore, a growth of 90% YoY and 46% QoQ. While it recorded highest ever quarterly revenue of Rs 60.9 crore, a growth of 23% YoY. The content cost for the quarter stood at Rs 4.7 crore compared to Rs 17.2 crore in Q2 FY23. YouTube subscribers now stand at 89.7 million.

On Friday, TIPS's share price stood at Rs 343.70 apiece, up by 0.8% on BSE with a market cap of Rs 4,414.02 crore.

4. Styrenix Performance Materials:

This specialty chemicals company announced a huge dividend of Rs 22 per share having a face value of Rs 10 each. It fixed October 31, 2023, as the record date to determine the members eligible to receive the interim dividend.

During Q2FY24, the company reported Rs 56.42 crore net profit, more than doubling from Rs 23.60 crore in Q2FY23 and also up from Rs 32.44 crore in Q1FY24. Revenue from operations stood at Rs 595 crore in Q2FY24, also surging from Rs 549.98 crore in Q2FY23 and Rs 543.77 crore in Q1FY24.

Styrenix's share price ended at Rs 1418.25 apiece, up by 2.29% on BSE after market hours of Friday. The company's m-cap was at Rs 2,494.08 crore.

5. Sasken Technologies:

IT-enabled services provider in the smallcap basket, Saske Technologies will pay an interim dividend of Rs 12 per share or 120% having a face value of Rs 10 each. The board fixed October 31, 2023, as the Record Date to ascertain the list of shareholders eligible for the aforesaid Interim Dividend and the same will be paid on or before Saturday, November 18, 2023.

In Q2FY24, the consolidated revenue of Sasken Group dipped by 14.6% YoY to Rs 102.51 crore. While consolidated EBITDA and PAT stood at Rs 12.71 crore and Rs 18.08 crore, declining by 55.2% and 49.7% year-on-year basis respectively.

On Friday, Sasken's share price stood at Rs 1,153.30 apiece, down by 2.06% on BSE with a m-cap of Rs 1,735.82 crore.

6. Elecon Engineering:

The smallcap company has declared an interim dividend of Rs. 1/- (i.e. 50%) and per equity share having a face value of Rs. 2/- each for FY 2023-24. The interim dividend will be paid to the shareholders who hold equity shares of the Company as of Record Date i.e. 31st October 2023.

Elecon Engineering Company is one of the largest Industrial Gear solution providers in Asia along with Material Handling Equipment. During Q2FY24, the company posted a consolidated PAT of Rs 89 crore, up by 37.3% YoY, while revenue and EBITDA also climbed by 24.8% YoY and 28.2% YoY to Rs 485 crore and Rs 119 crore respectively.

Witnessing increased enquiries across product categories & industries and with a strong executable order book in hand, the company is optimistic about the growth momentum going forward, Elecon said in the filing. As of September 30, 2023, the open order book stood at Rs 738 crore.

Elecon share price stood at Rs 791.10 apiece, up by 2.12% on BSE. The company's market cap stood at Rs 8,876.14 crore.

7. Dr Agarwals Eye Hospital:

The healthcare company declared an interim dividend of Rs 2.50 per equity share of Rs10/- each fully paid-up, (25%) for the financial year 2023-24 to the shareholders.

The record date for payment of interim Dividend shall be October 31, 2023. The Dividend shall be paid/the dividend warrant/demand draft shall be dispatched to the Members on or before 18 November 2023.

In Q2FY24, the company's net profit was at Rs 12.59 crore, up from Rs 9.07 crore in Q2FY23. Revenue from operations stood at Rs 83.27 crore in Q2FY24, up from Rs 68.75 crore in Q2FY23.

On October 27th, the stock price ended at Rs 2,868.50 apiece, up by 3.20% with m-cap of Rs 3,031 crore.

8. Balkrishna Industries:

This tyres and rubber products manufacturer has declared a 2nd Interim Dividend for the financial year 2023-24, if declared, shall be paid to the equity shareholders whose name appears on the Register of Members of the company on the record date i.e. 31st October 2023.

In Q2FY24, Balkrishna posted a net profit of Rs 335 crore, down by 17% YoY but up by 7% QoQ. Revenue stood at Rs 2,247 crore, also lower from Rs 2,704 crore in Q2FY23 but up from Rs 2,120 crore in Q1FY24. Sales volume stood at 70,585 MT, registering a decline of 11% YoY but an upside of 5% QoQ.

As per the regulatory filing, overall, the Company expects a stable trajectory to continue and better H2FY24. However, given the H1FY24-related challenges and volume performance, the company expects FY24 volumes to grow marginally.

On Friday, Balkrishna's share price stood at Rs 2,598.95 apiece, up by 1.6% on BSE with a m-cap of Rs 50,242.17 crore.