Rs. 8 Dividend: Will Be Paid By August 13; Pick Up Stake In Construction Stock?

One of India's largest listed, diversified engineering and construction companies, Kalpataru Projects International Limited (KPIL) is a subsidiary of the prominent Kalpataru Group and specialises in power transmission and distribution (T&D), buildings and factories (B&F), water supply and irrigation, railways, oil and gas pipelines, urban mobility (flyovers & metro rail), highways and airports. As of March 31st, 2024, KPIL had a healthy order book worth USD 7 billion, and its consolidated revenue for FY24 was USD 2.4 billion. As of Monday's closing session, its market capitalization was Rs 19,138.59 Cr.

Kalpataru Projects International 2024 Dividend

"We are pleased to inform you that the 43rd Annual General Meeting of Members of the Company ("AGM") is scheduled to be held on Monday, July 15, 2024 at 11:30 A.M. IST through Video Conferencing ("VC") / Other Audio Visual Means ("OAVM") in accordance with the relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India from time to time. In respect of Final Dividend for FY 2023-24 of Rs. 8/- per Equity share (400%) recommended by the Board of Directors at its meeting held on May 08, 2024 and pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, June 28, 2024 as the "Record Date" for the purpose of determining entitlement of members to Final Dividend, if declared at the 43rd Annual General Meeting of the Company. The final dividend will be paid on or before August 13, 2024, if declared. Further, the Company has fixed Monday, July 08, 2024 as the "Cut-off Date" for the purpose of determining the members eligible to vote on the resolutions set out in the Notice of the 43rd Annual General Meeting. The remote e-voting period commences on Thursday, July 11, 2024 (09:00 a.m. IST) and ends on Sunday, July 14, 2024 (05:00 p.m. IST)," said Kalpataru Projects International in a regulatory filing.

Kalpataru Projects International FY24 Dividend Updates

"Your Directors are pleased to recommend dividend on the paid-up equity share capital base of the Company for the year ended March 31, 2024 @ Rs 8/- (400%) per equity share of Rs 2/- each fully paid up (previous year Rs 7 (350%) per fully paid up equity share). The total dividend payment for FY 2023-24 would be approx. Rs 129.96 Crores on the share capital base of 16,24,46,152 equity shares as against the previous year dividend payment of Rs 113.71 Crores on the equity shares of the Company. The final dividend payment for the FY 2023-24 is in accordance with the Dividend Distribution Policy of the Company and the same shall be paid subject to the deduction of tax in applicable cases once approved by the members of the Company at the ensuing Annual General Meeting," said the company in its annual report.

Kalpataru Projects International Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "The current trading price of KPIL is Rs 1174. The stock has recently been trading in a range of Rs 1100 to Rs 1300 on the daily chart, with a significant increase in trading volume, indicating a sideways trend. If the price manages to close above the Rs 1200 level, it may have the potential to reach short-term targets of Rs 1300 and Rs 1400. On the other hand, immediate support levels are located at Rs 1100, which can be considered as opportunities to buy on dips. The Relative Strength Index (RSI) currently stands at 47.5 and is trending upward, indicating a sideways trend."

"To prudently manage risk, it is advisable to set a stop-loss (SL) at Rs 1040. This precaution will help protect your investment in case of an unexpected market reversal. In summary, considering the technical analysis and the current market conditions, KPIL appears to present an appealing buying opportunity for those aiming for a Rs 1300 and Rs 1400 price target, provided that appropriate risk management measures are in place," 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.