Re 1 Dividend: Buy Multibagger Navratna PSU For TP Rs 400, Shares Fall 8.65% In 1-Week

Navratna PSU Engineers India Ltd shares witnessed decline of 8.65% in last 1-week span and slipped 2.31% in trade today. Current market price of Engineers India share on BSE is Rs 261.90 per share. Brokerage firm Choice Broking has buy call on Engineers India Ltd share with target price in the range of Rs 370 to Rs 400 and keep the stop loss at Rs 250. The PSU has a market capitalisation of Rs 14,739.56 crore. Engineers India shares witnessed stunning rally of 309% in last 2-years and 101% in last 1-year. Engineers India recommended a final dividend of Re 1/- per share on the face value of Rs 5/- for the FY 2023-24. The record date for the final dividend is yet to be issued. Check key details below:

Engineers India Share Performance: The 52-week high price of Engineers India Ltd shares on BSE is Rs 304.00 per share (as on 12/07/2024) and 52-week low price is Rs 116.50 per share (as on 26/10/2023), respectively. Engineers India shares offered return of 45% year-to-date, soared 240% in last 3-years, and jumped 148% in last 5-years.

Engineers India Dividend: The Board of the PSU on May 28, 2024 stated in its BSE filing, "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 261.90, Engineers India Ltd offers a dividend yield of 1.14%.

Engineers India Shareholding: FII/FPI have increased holdings from 7.01% to 7.26% in June 2024 quarter. Number of FII/FPI investors increased from 152 to 155 in June 2024 quarter. Mutual Funds have increased holdings from 5.97% to 7.94% in June 2024 quarter. Number of MF schemes remains unchanged at 17 in June 2024 quarter. Institutional Investors have increased holdings from 20.62% to 21.17% in June 2024 quarter, according to Trendlyne. Life Insurance Corporation Of India (LIC) has 2.87% stake in EIL.

Choice Broking Recommends Buy: According to the analyst, Engineers India recently witnessed a breakout of an ascending triangle on the daily chart with a significant jump in trading volume, indicating a potential breakout. If the price manages to close above the Rs 295 level, it may have the potential to reach short-term targets of Rs 370 and Rs 400.

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 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: 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 Choice Broking. 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.