Dividend On Oct 30: FMCG Giant Plunges 14.32% In 2-Weeks, Buy Or Sell? Citi; Macquarie Issue Call

FMCG major Dabur India Ltd shares recorded sharp decline of 14.32% in last 2-weeks span. Last trading price of Dabur India shares on BSE is Rs 572.15 per share with intraday fall of 1.46%. However, in last 6-months, Dabur India share price zoomed over 13%. The steep fall in Dabur shares price can be attributed to recent business update issued by the company for the second quarter of the current financial year. The firm said extreme weather events like incessant rains and floods caused impact on consumption and consumer offtake.

Immediately after the company declared its business update, several leading brokerage houses sought to slash the target prices and recommended sell call to the stock. The company's market capitalisation stood at Rs 1,01,402.80 crore. Dabur India will hold its meeting of Board of Directors on Oct 30, 2024 to consider financial results and consider declaration of interim dividend. Check details below:

Dabur India Shares Performance: The 52-week high price of Dabur India shares on BSE is Rs 672.00 per share (as on 17/09/2024) and 52-week low price is Rs 489.00 per share (as on 16/04/2024), respectively. Dabur India shares are currently trading 14.53% away from 52-week low price. Dabur India shares plunged 9.62% in last 1-week, soared over 3% in last 1-year, and gained 34% in last 5-years. In last 3-years, Dabur India stock fell 8%.

According to report, Dabur is likely to declare a mid-single digit fall in the consolidated India revenue for the September quarter. The FMCG giant stated its profitability will be affected in Q2FY25, and the operating margin is likely to decline in mid-to-high teens due to higher investment and deleveraging.

Dabur India To Consider Financial Results, Dividend: As per the exchange filing of Dabur India dated September 24, 2024, "Pursuant to provisions of Regulations 29 and 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, the 30th October 2024 to inter alia, consider and approve the unaudited financial results for the quarter/half year ending on 30th September 2024 and to consider declaration of interim dividend on the equity shares of the Company for the Financial Year 2024-25."

Dabur India Dividend History: The company declared 49 dividends since May 23, 2001. In last 12 months, Dabur India announced an equity dividend of Rs 5.50per share. At the current share price of Rs 626.40 per share, it offers a dividend yield of 0.88%.

Dabur India Shareholding: FII/FPI have decreased holdings from 15.82% to 14.99% in Jun 2024 qtr. Number of FII/FPI investors increased from 802 to 807 in Jun 2024 qtr. Mutual Funds have increased holdings from 5.98% to 6.25% in Jun 2024 qtr. Number of MF schemes decreased from 30 to 29 in Jun 2024 qtr. Institutional Investors have increased holdings from 28.39% to 28.55% in Jun 2024 qtr, according to Trendlyne.

Dabur India Bonus Share History: The FMCG major declared a total of 3 bonus issues since January 19, 2006. Dabur's last bonus share was announced in the proportion of 1:1 with ex-date fixed as September 8, 2010.

LIC Holding: Life Insurance Corporation Of India (LIC) has 3.71% stake in Dabur India as the PSU insurer has 65,828,461 shares of the company as of June quarter.
Dabur India Stock Split History: Dabur India split the face value of its shares once since November 27, 2000. It last sub-divided face value of its shares from Rs 10 to Re 1 in 2000. The share traded ex-split on November 27, 2000.

Should You Buy Dabur Shares On Corrections? Citi has recommended sell call with slashed target price of Rs 570 per share as the analyst decided to cut FY25-27 earnings estimates by 3-6%. Macquarie assigned neutral rating to Dabur India shares with target price reduced to 560/share. The firm expects sales growth to recover from October but sluggish demand momentum is concerning, said Macquarie.

About: Dabur India Limited is a leading Indian consumer goods company with interests in hair care, oral care, health care, skin care, home care and food & beverages. Dabur India Ltd. is one of India's leading FMCG Companies with Revenues of over Rs. 11,530 Crores & Market Capitalization of over Rs. 96,500 Crore. Building on a legacy of quality and experience of over 139 years, Dabur is today India's most trusted name and the world's largest Ayurvedic and Natural Health Care Company, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Citi and Macquarie. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.