2,200 per cent dividend: After reaching a 52-week high today, the stock will trade ex-dividend tomorrow!

The company's net profit climbed more than 78 per cent year-on-year!

The Indian headline indices were trading lower as the RBI Monetary Policy Committee decided not to change repo rates, but the CPI inflation forecast for FY24 was raised from 5.1 per cent to 5.4 per cent. According to Morgan Stanley, India's retail inflation is predicted to surge to 6.2 per cent at the end of the September quarter, with an increase in food prices serving as the main driver of this inflation hike.

One of the leading FMCG brands, Godfrey Phillips India Limited, was among the top trending stocks today, as its shares will trade ex-dividend tomorrow, August 11, 2023. For the financial year ended March 31, 2023, the company's board of directors recommended a final dividend of Rs 44 (2,200 per cent) per equity share with a face value of Rs 2 each.

The company's robust quarter performance for the quarter ending in June 2023 has impressed investors. Taking into account the quarterly performance, on a consolidated basis, it reported a stellar growth of 26.84 per cent from Rs 981.83 crore registered in Q1FY23, recording total revenue of Rs 1,245.39 crore in Q1FY24. It has reported strong operating profit growth of 50 per cent. Comparing to the same quarter last year, the net profit for the first quarter of FY24 soared 68.62 per cent, from Rs 131.05 crore to Rs 220.97 crore.

Godfrey Phillips India Limited, the flagship company of Modi Enterprises, is one of India's top FMCG companies, producing some of the country's most popular cigarette brands. The company has expanded its product portfolio beyond cigarettes and tobacco and entered India’s highly competitive confectionery segment and retail.

Keep a close eye on this stock for the upcoming sessions!