Rs 20 Dividend Ahead: 26 August - Date of Payment; Time For Profit Booking?

A manufacturer of gas and air compressors is Ingersoll Rand (India) Ltd. For a variety of sectors, Ingersoll Rand provides premium industrial air compressors and compressed air services. The stock will be the subject of attention on Tuesday as it is scheduled to trade ex-dividend for a payout of Rs 20 per share, according per the data posted on the BSE. The eligible shareholders whose names are on the company's book of records as of the record date will receive the cash reward by August 26.

Ingersoll Rand (India) Dividend

"At the meeting of the Board of Directors of the Company held on May 28, 2024, the Directors have recommended a dividend of Rs.20/- per equity share of Rs.10 each (200%) for the financial year ended March 31, 2024 subject to the approval of shareholders in the ensuing Annual General Meeting. The 102nd AGM of the shareholders of the Company is scheduled to be held on Tuesday, August 13, 2024 and the Register of Members and Share Transfer Books of the Company will remain closed from Wednesday, July 10, 2024 to Friday, July 12, 2024 (both days inclusive) for the purpose of determining the Members who are eligible to receive the dividend, if any, declared by the shareholders at the ACM. The date of payment of dividend will be August 26, 2024 onwards," said the company in a regulatory filing.

Ingersoll Rand (India) Q1FY25 Result Update

"This is to inform you that as per the Company's Code of Conduct to regulate, monitor and report trading by insiders ("Code of Conduct"), the Trading Window for dealing in the securities of the Company will be closed for all the Designated Persons and their immediate relatives with effect from July 1, 2024 to August 14, 2024 i.e. till 48 (forty eight) hours after the approval of financial results of the Company for the quarter ending June 30, 2024," said the company in a stock exchange filing.

Ingersoll Rand Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "INGERRAND is currently trading at 4510 levels, having experienced profit booking from its all-time high of 5000. The stock finds robust support near 4423 levels aligned closely with its 50-day Exponential Moving Average (EMA) levels., indicating potential buying interest at these levels. However, investors holding the stock from lower levels are advised to book profits, as the stock is now trading near to its short-term (20 Day) EMA levels. For investors considering a fresh entry into INGERRAND, it is prudent to await a reversal in the stock's price action. A breakout above Rs 4575 could propel the stock towards the Rs 4848 and Rs 5000 level."

"On the flip side In the event of a breakdown below the mentioned support of 4423, the stock may witness further correction towards the 4125 levels. This approach balances the potential for buying opportunities above breakout levels, while also recognizing the need for caution amid the stock's current profit booking at higher levels. Investors should monitor price movements closely and adjust their strategies accordingly to navigate INGERRAND evolving market dynamics," the analyst predicted.

Disclaimer

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