PL Sees Multibagger Navratna Dividend PSU Rising, Buy Recommended For TP Rs 295

Prabhudas Lilladher has recommended investors to buy Navratna PSU Engineers India Ltd share with target price of Rs 295 per share in its latest technical pick report. Current market price of Engineers India shares on BSE is Rs 270.65 per share with intraday gain of 1.88%. Engineers India shares offered maximum return of 371% in last 2-years. The company's market capitalisation stood at Rs 15,211.68 crore as on June 18, 2024. The PSU on May 28 recommended a final dividend of Re 1 per share on the face value of Rs 5/- each for the FY 2023-24. Engineers India carried out 1 stock split in 2010 when its split the face value of its share in the proportion of 1:2.

EIL offers a dividend yield of 1.11%. FII/FPI have decreased holdings from 7.60% to 7.01% in March 2024 quarter. Number of FII/FPI investors increased from 148 to 152 in March 2024 quarter. Life Insurance Corporation of India (LIC) has 2.87% stake in EIL and SBI Life Insurance's stake stood at 2.74% in the PSU. Check more details below:

Engineers India Dividend: The Board of EIL on May 28, 2024, "recommended final dividend of Re 1/- (Rupee One Only) per share (on the face value of Rs 5/- each) on the equity shares of the Company for the financial year 2023-24. The final dividend is subject to approval of shareholders in the ensuing Annual General Meeting."

Engineers India Dividend History: Engineers India announced 42 dividends since August 30, 2001. In last 1-year, Engineers India announced an equity dividend amounting to Rs 3.00 per share. At the current share price of Rs 270.65 per share, Engineers India Ltd offers a dividend yield of 1.11%.

Prabhudas Lilladher Recommends Buy Call: According to the analyst, "the stock has indicated a rising trend overall with currently witnessing a decent pullback moving past the significant 50EMA level of 236 to improve the bias and anticipating the further rise in the coming days. The RSI is well placed correcting from the overbought zone and has indicated a trend reversal to signal a buy. With the chart looking good, with much upside potential visible from current rate. We suggest to buy the stock for an upside target of Rs 295 keeping the stop loss of Rs 225."

Engineers India Ltd Q4 Results: EIL declared standalone net profit for the quarter ended March 31, 2024 at Rs 90.93 crore, down 42.71% as against net profit of Rs 158.72 crore announced in the similar quarter of last year. The Navratna's revenue from operations for the March 2024 quarter announced at Rs 790.27 crore as compared to Rs 866.14 crore declared in the corresponding quarter of last year. Total standalone income of the PSU for the quarter ended March 31, 2024 announced at Rs 846.39 crore from Rs 915.48 crore in March 2023. Its March 2024 quarter profit before tax declared at Rs 116.44 crore from Rs 204.92 crore declared in March 2023. EPS of Engineers India Ltd for March 2024 quarter announced at Rs 1.62 from Rs 2.83 declared in March 2023.

Engineers India Share Performance: The 52-week high price of Engineers India shares on BSE is Rs 290.00 per share (as on 24/05/2024) and 52-week low price is Rs 107.80 per share (as on 16/06/2023). Engineers India shares gave return of 21.42% in last 2-weeks only, surged 46% in last 3-months, zoomed 60% in last 6-months, and rallied 141% in last 1-year. In last 3-years, Engineers India shares gave return of 234%.

Engineers India Bonus Share History: EIL recommended 2 bonus issues since May 6, 2010. Last Bonus that Engineers India Ltd declared was in the ratio 1:1 with ex-date fixed as December 30, 2016.

Engineers India Stock Split History: EIL sub-dividend the face value of its share once since May 6, 2010. EIL last sub-dividend the face value of its shares from Rs 10 to Rs 5 in 2010.The share traded ex-split on May 6, 2010, according to Trendlyne.

About: Engineers India Ltd (EIL) is a leading global engineering consultancy and EPC company. Established in 1965, EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries. Engineers India Ltd (EIL), a Navratna PSU, is one of the leading design and engineering organizations in South Asia, according to its Linkedin profile.

Disclaimer: The stock has been picked from the brokerage report of Prabhudas Lilladher. 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.