Vijay Kedia’s multibagger stock Sudarshan Chemical to turn ex-dividend on Sept 22

Sudarshan Chemical Industries Ltd, a multibagger stock that has delivered a stellar 248 per cent return over the past three years, is set to turn ex-dividend on Monday, September 22. The company’s share price has surged from Rs 423 to Rs 1,474 during this period.

The stock is also part of veteran investor Vijay Kedia’s portfolio, who holds 10 lakh shares, accounting for 1.27 per cent of the company’s equity, BSE data showed.

At Friday’s close, Sudarshan Chemical shares rose 2.8 per cent to Rs 1,474.95 on the BSE, up from the previous close of Rs 1,434.75. The stock is trading 86 pr cent above its 52-week low of Rs 795.75 and has gained 18 per cent over the past three months.

The board of Sudarshan Chemical Industries has recommended a final dividend of Rs 4.50 per share on the face value of Rs 2 each, subject to shareholder approval at the forthcoming Annual General Meeting (AGM). The company has fixed Monday, September 22, as the record date to determine the entitlement of shareholders to the dividend.

Technical indicators suggest moderate momentum, with the RSI at 63.1 and the Money Flow Index (MFI) at 51.8, both in mid-range. The stock is showing low volatility with a one-year beta of 0.9.

Sudarshan Chemical remains well above its moving averages at Rs 1,474.95 versus the 50-day SMA of Rs 1,390.2 and the 200-day SMA of Rs 1,153.6.

Sudarshan Chemical Industries is engaged in the sale and trading of a wide range of organic, inorganic, and effect pigments. It also manufactures and supplies industrial equipment, including pollution control systems, size reduction machines, and grinding equipment for various industrial applications.