Bharat Dynamics shares rise 3% as board approves stock split, interim dividend
Shares of Bharat Dynamics climbed 3.52 to Rs 1720 apiece on BSE. Market cap of the firm rose to Rs 31,016 crore.
- Mar 22, 2024,
- Updated Mar 22, 2024 10:39 AM IST
Shares of Bharat Dynamics Ltd rose over 3% today after board of the state-owned defence company approved stock split and interim dividend. Shares of Bharat Dynamics climbed 3.52 to Rs 1720 apiece on BSE. Market cap of the firm rose to Rs 31,016 crore. The defence stock opened higher at Rs 1719 on BSE. Total 0.22 lakh shares of the firm changed hands amounting to a turnover of Rs 3.72 crore on BSE. The stock climbed to its 52-week high of Rs1984.80 on February 27, 2024 and fell to a 52-week low of Rs 879 on March 28, 2023.
The multibagger defence stock delivered multibagger returns of 194% in two years and gained 375% in three years.
Bharat Dynamics stock stands higher than the 5-day, 100-day, 150 day and 200-day moving averages but lower than the 10 day, 20-day, 30 day and 50-day moving averages. The midcap stock has gained 86 per cent in one year and lost 1.71 per cent since the beginning of this year.
The company approved subdivision of one existing stock of face value of Rs 10 into two equity shares of face value of Rs 5.
Bharat Dynamics’ board also cleared an interim dividend of Rs 8.85 per equity share. April 2 has been fixed as the record date for the interim dividend and payment will be completed on or before April 18, 2024.
The record date for the stock split will be announced after getting approval from shareholders for the stock split through a post ballot electronic voting process. The post ballot notice and e-voting instructions will be sent to shareholders who hold shares till the cut-off date March 22, 2024, the company said.
Bharat Dynamics is engaged in the manufacturing of missiles and allied defence equipments. The company provides majority of its goods and services to the Indian Armed forces and government of India.
Shares of Bharat Dynamics Ltd rose over 3% today after board of the state-owned defence company approved stock split and interim dividend. Shares of Bharat Dynamics climbed 3.52 to Rs 1720 apiece on BSE. Market cap of the firm rose to Rs 31,016 crore. The defence stock opened higher at Rs 1719 on BSE. Total 0.22 lakh shares of the firm changed hands amounting to a turnover of Rs 3.72 crore on BSE. The stock climbed to its 52-week high of Rs1984.80 on February 27, 2024 and fell to a 52-week low of Rs 879 on March 28, 2023.
The multibagger defence stock delivered multibagger returns of 194% in two years and gained 375% in three years.
Bharat Dynamics stock stands higher than the 5-day, 100-day, 150 day and 200-day moving averages but lower than the 10 day, 20-day, 30 day and 50-day moving averages. The midcap stock has gained 86 per cent in one year and lost 1.71 per cent since the beginning of this year.
The company approved subdivision of one existing stock of face value of Rs 10 into two equity shares of face value of Rs 5.
Bharat Dynamics’ board also cleared an interim dividend of Rs 8.85 per equity share. April 2 has been fixed as the record date for the interim dividend and payment will be completed on or before April 18, 2024.
The record date for the stock split will be announced after getting approval from shareholders for the stock split through a post ballot electronic voting process. The post ballot notice and e-voting instructions will be sent to shareholders who hold shares till the cut-off date March 22, 2024, the company said.
Bharat Dynamics is engaged in the manufacturing of missiles and allied defence equipments. The company provides majority of its goods and services to the Indian Armed forces and government of India.