Rs 15.50 Dividend: How To Trade Miniratna Defense PSU Stock To Be Eligible By 13th September?

In May 1964, BEML Limited (previously known as Bharat Earth Movers Limited) was founded. BEML Limited, a Schedule "A" company under the Ministry of Defence, Government of India, with Miniratna status, is essential to India's key industries, which include mining, rail, power, infrastructure, and defence. The company works in three main business verticals: rail and metro, mining and construction, and defence. Nine production facilities of the company are spread across Bangalore, Kolar Gold Fields (KGF), Mysore, Palakkad, and the Chikmagalur District subsidiary Vignyan Industries Ltd. With 12 regional offices, 15 district offices, 06 activity centres, and 5 service centres & spare depots scattered throughout India, BEML offers a countrywide network for services of mining and construction products.

BEML Dividend

"For F.Y 2023-24, Board has recommended a dividend of Rs 15.50/- per equity share (i.e., 155%), this would result in a cash outflow of approximately Rs 6454.90 Lakhs in F.Y 2024-25, subject to the approval of shareholders at the Annual General Meeting," said BEML in a stock exchange filing.

Friday, 13th September 2024 will serve as the cut-off date for determining the eligibility of shareholders for remote e-voting/ e-voting at the AGM and for payment of dividend.

BEML Latest News

At BEML's Bangalore rail complex on Monday, the Honourable Union Minister for Railways, Shri Ashwini Vaishnaw, ceremoniously turned on India's first Vande Bharat Sleeper trainset. Reaching this milestone is a major accomplishment for BEML, the top rail and metro producer in India. A new Hangar facility measuring 9.2 acres close to BEML's Bangalore complex was also opened and the foundation stone was set by Shri Vaishnaw as part of the ceremony. With the establishment of this factory, BEML's worldwide presence will be further enhanced through the export of standard and broad-gauge rolling stock.

Shri Ashwini Vaishnaw said, "This is a historic moment for the country. The much-awaited Vande Bharat Sleeper trainset is now set to run on Indian Railways tracks, providing our people with a world-class travel experience and best-in-class amenities. The dedication and expertise of BEML's leadership and engineers have made this remarkable achievement possible."

Shri Shantanu Roy, CMD of BEML, added, "Building on our rich legacy of manufacturing toptier rail coaches over the past six decades, BEML has once again demonstrated its strength in rail manufacturing, making the nation proud. This project stands as an iconic landmark in modern India's transportation infrastructure, one that future generations will remember."

BEML Financials

For the quarter ended June 30, 2024, defence PSU BEML reported a decline of its consolidated net loss to Rs 70.47 crore. According to a filing made by BEML to the BSE, the company reported a consolidated net loss of Rs 75.01 crore for the same period last year. According to the report, the company's consolidated income for the April-June quarter climbed to Rs 634.61 crore from Rs 578.11 crore in the same quarter of the previous fiscal year.

BEML Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "BEML is currently trading at Rs 4,058 and has shown a strong reversal from the support trend line. The stock has given a breakout from its range on the daily chart, indicating potential momentum and the beginning of a possible uptrend. The short-term target is Rs 4,520, with Rs 3,800 considered a buying opportunity if maintained as support. The Relative Strength Index (RSI) is at 51.49, suggesting strength in the current price movement. The Exponential Moving Averages (EMAs) indicate that the price has crossed above the 20-day and 50-day EMAs and is approaching the 200-day EMA."

"To manage risk effectively, setting a stop-loss at Rs 3,700 is advisable to protect your investment in case of an unexpected market reversal. In summary, based on technical analysis and current market conditions, BEML appears to be a promising buying opportunity with a target price of Rs 4,520, provided that appropriate risk management measures, such as setting a stop-loss at Rs 3,700 are implemented," the analyst further added.

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.