Stock To Hold: LIC-Backed Pharma Stock Down 9.85%, To Pay Rs 117/Share Dividend Soon

Leading pharmaceuticals company Sanofi India share will hit ex-dividend on Mary 3, 2024. Last trading price of Sanofi India shares on BSE is Rs 8447.70 per share with intraday gain of 0.42%. The stock is currently down 9.85% from 52-week high price of Rs 9370.35 per share. The company's market capitalisation of Rs 19,455.05 crore. The PE of Sanofi India shares is 32.35.

Sanofi India shares gained 41% in last 1-year and 185% in last 10-years. Sanofi India shares will trade ex-dividend for Rs 117/share in May. In last 1-year, Sanofi India declared Rs 427/share dividend. Check details below:

Sanofi India Will Trade Ex-Dividend On May 3: As per the regulatory filing of the company, Sanofi India announced a final dividend of Rs 117/- per equity share of the face value of Rs 10 each for the Financial Year ended 31 st December 2023, subject to the approval of Shareholders at the ensuing 68th Annual General Meeting. The company fixed May 3, 2024 as the record date. The BSE filing dated February 23, 2024 said, "Payment of dividend will be made on or after 24th May 2024, to those members whose names are on the Company's Register of Members on Friday, 3rd May 2024 and those whose names appear as Beneficial Owners as at the close of the business hours on Friday, 3rd May 2024 as per the details to be furnished by the Depositories, viz. NSDL and CDSL for this purpose."

Life Insurance Company Has Stake In Sanofi India: The pharmaceuticals company has backing of Life Insurance Company as the PSU has a stake of 5.95% with 13,69,833 shares. LIC has been consistently soaring in Sanofi India for last few years.

Sanofi India Technical: It has a score of 63.42, indicating it is technically moderately strong. Stocks with score between 60 and 70 are considered as technically Moderately Strong. RSI is 53.6, RSI below 30 is considered oversold and above 70 overbought. RSI is momentum oscillator that measures the speed and change of price movements. MFI is 66.7, MFI below 30 is considered oversold and above 70 overbought. MACD is above its center and signal Line, this is a bullish indicator.

Sanofi India Dividend History: Sanofi India has already announced 50 dividends since May 17, 2001. In last 12 months, Sanofi announced an equity dividend of Rs 427/share. If the existing share price of Rs 8563.6500 is taken into consideration, it offers a dividend yield of 5.05%.

Should You Buy Sanofi Shares? According to Deven Mehata, Equity Research Analyst at Choice Broking said Sanofi is showing signs of a positive technical outlook. The stock has recently rebounded from the support levels around 8619 which is also close to 50 Day EMA levels, demonstrating its ability to maintain price stability. It can be added up to Rs 8695 for the target of 9077 levels with a stop loss of Rs 8555.
Meanwhile, brokerage firm ICICI Securities has assigned hold call for Sanofi India shares with target price of Rs 9170 per share.

Sanofi India Shares Performance: Sanofi India's 52-week high price is quoted at Rs 9,370.35 per share and 52-week low price is quoted at Rs 5,329.70 per share on BSE. Sanofi India shares offered return of 6% in last 2-weeks, gave return of 15% in last 6-months, and surged 45% in last 3-years. In last 1-week, Sanofi India shares declined over 2%.

About Sanofi India: It came into existence in 1956. The pharma company offers innovative solutions in preventive healthcare (vaccines) as well as in treatment for allergy, pain, diabetes, rare diseases, and other therapeutic areas, as per the official website of the company.

Disclaimer: The stock has been recommended by leading brokerage firm ICICI Securities and Choice Broking. Highreturns, the Author, and ICICI Securities will not be held responsible for any losses due to decisions taken based on the article. Highreturns.in recommends readers to verify with certified experts before taking any investment decision.