Rs 10 Dividend: September 23 Record Date, Payable By October 30; A Compelling Buying Opportunity?

The top exporter of crystal to more than 30 countries worldwide is La Opala RG Ltd. With a market value of Rs 4000 Cr, La Opala currently has listings on the National Stock Exchange and the Bombay Stock Exchange. La Opala RG Ltd. is an Indian firm that produces and sells a range of glass and glassware items. On June 11th, 1987, La Opala RG Limited was established in Kolkata. In the glassware industry, the company is a top producer and marketer of lifestyle products, with Sushil and Ajit Jhunjhunwala as its promoters.

La Opala RG Dividend

"The Board of Directors of the Company has recommended a payment of Dividend of Rs. 10/- (500%) per equity share inclusive of a Special Dividend of Rs. 5/- per equity share of Rs 2/- each for the financial year ended 31st March, 2024 (previous year 2022-23 dividend of 250% i.e. Rs. 3.5/- per equity share of Rs 2/- each). The Dividend, subject to the approval of Members at the ensuing Annual General Meeting, will be paid within statutory period, to the Members whose names appear in the Register of Members, as on the date of Book Closure," said the company in a statement.

"The Company has fixed Monday, September 23, 2024 as the 'Record Date' for determining entitlement of members to final dividend for the financial year ended March 31, 2024, if approved at the AGM. The Register of Members and Share Transfer Books of the Company will remain closed from Tuesday, September 24, 2024 to Monday, September 30, 2024 (both days inclusive) for the purpose of AGM and Payment of Dividend. If the dividend, as recommended by the Board of Directors, is approved at the AGM, payment of such dividend will be made on or before Wednesday, October 30, 2024," La Opala RG informed stock exchanges.

Who Will Be Eligible To Get Dividend of La Opala RG?

"In terms of above, Dividend of Rs. 10/- (i.e.,500%) per equity share inclusive of a special dividend of Rs. 5/- per equity share (Face value of Rs. 2/- each) for the financial year ended on March 31, 2024, as recommended by the Board at its Meeting held on May 30, 2024, if declared in the aforesaid AGM, will be paid to those Members holding shares in physical form and whose names appear in the Register of Members as at the close of business hours on September 23, 2024 and holding shares in electronic form and whose names appear in the list of beneficial holders furnished by the respective Depositories as at the close of business hours on 23 September, 2024," the company said in a stock exchange filing.

La Opala RG Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "LAOPALA is currently trading around the Rs 355 - Rs 360 levels. The stock has given a breakout after forming a rounding bottom pattern over the past few weeks. This indicates that the trend has shifted from a consolidation phase into a clear uptrend. The breakout is accompanied by a significant increase in trading volume, confirming strong bullish momentum. Key support levels are now around Rs 345, while the next important resistance is expected at Rs 375. The Relative Strength Index (RSI) stands at 74.15 and is trending upward, indicating increasing buying momentum."

"However, the upward trend in the RSI indicates continued buying strength. To manage risk effectively, a stop-loss (SL) at Rs 335 is advisable. This will protect against any unexpected reversal in the market. In conclusion, based on the technical analysis and current market momentum, LAOPALA presents a compelling buying opportunity with a target price of Rs 394. However, it's essential to implement proper risk management by setting an SL at Rs 340 to safeguard your position," the analyst further recommended.

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.