Rs 8/Share Dividend: Record Date In 2 Days On 19th March; Buy The Blue Chip Stock?
As of Friday’s closing session, TVS Motor Company has a market capitalization of Rs 98,205.26 Cr, making it a blue chip company. As the third-largest two-wheeler producer in India, TVS Motor Company is a well-known two- and three-wheeler manufacturer worldwide.
The firm operates four production facilities: one in Karawang, Indonesia, and three in India (Hosur, Tamil Nadu; Mysore, Karnataka; Nalagarh, Himachal Pradesh). The corporation recently declared an 800% interim dividend, with a face value of Rs 1 apiece and for the purpose of the same 19th March 2024 has been fixed as the record date.
TVS Motor Company Dividend
The Board of Directors of the company at its meeting held on 11th March declared an interim dividend of Rs. 8/- per share (800%) on 47,50,87,114 equity shares of Re.1/- each fully paid up, totalling a sum of Rs. 380 Cr, for the financial year ending 31st March 2024.
As per a regulatory filing, the Board of TVS Motor Company has fixed 19th March 2024 as the record date and the dividend payment will be made within a period of 30 days from the declaration of interim dividend.
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TVS Motor Company News
“A meeting of the Board of Directors of the Company is being convened on Wednesday, 20th March 2024, inter-alia, to consider the issuance of Cumulative Non-Convertible Redeemable Preference Shares by way of Bonus, to the shareholders of the Company,” said TVS Motor Company in a regulatory filing on 14th March 2024.
TVS Motor Company Share Price Target
Deven Mehata – Equity Research Analyst at Choice Broking said TVSMOTOR, currently trading at 2149.8 levels, is showing signs of a positive technical outlook. The stock has recently rebounded from the support levels around 2090 which is also close to 50 Day EMA levels, demonstrating its ability to maintain price stability.
Notably, the stock has a minor resistance level at 2176, which is in proximity to the 20-Day Exponential Moving Average (EMA). If the stock manages to sustain a position above this mentioned resistance, it may pave the way for an upward movement towards the target level of 2333 and beyond. This is a positive development, as it signifies a potential change in the stock’s trend.
The Relative Strength Index (RSI), a momentum indicator, is currently trading at 49.20 levels. This RSI reading suggests a moderate level of strength in the stock, without being in overbought territory. It implies that there is room for the stock to potentially gather further momentum.
Based on the above analysis TVSMOTOR can be purchased at a CMP of 2149.8, for the target of 2333 levels with a SL of 2000.
Disclaimer
The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
Vipul Das Goodreturns
source: goodreturns.in
