This company’s Board has approved a 500% dividend on its face value of Rs. 2. After this announcement the stock jumps ~3% on Monday. A strong and increasing trading volume that has crossed the averages for both the previous day and last week is supporting the stock price.
Gujarat State Fertilizer & Chemical Ltd
The company has a market valuation of Rs. 6,038.93 Cr, making it a small-cap. On Monday the company share were trading 3.63% up at Rs. 157.
According to company filings, the company is scheduling its 61st Annual General Meeting on September 22, 2023. A dividend of 500% of its face value of Rs 2 amounting to Rs 10 equity share will be paid to the investors on or after September 28, 2023, following its declaration at the AGM.
As per the company filing, The total consolidated revenue declined to Rs. 2111.82 Cr in Q1 FY24 from Rs. 3048.67 Cr in Q1 FY23, and for the same period, the net profit declined to Rs. 112.46 Cr from Rs. 345.81 Cr.
As of June 2023, promoters hold 37.84%, DIIs hold 8.22%, FIIs hold 20.54% and Public hold a 33.40% stake in this company.
The company, Gujarat State Fertilizers and Chemicals Limited, specializes in the manufacture of fertilizers and chemicals. The company business in two segments: industrial products and fertilizer products.
Written by Sheshadri N
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