52-week high alert: 800 per cent dividend recommended by the board of this multibagger stock!

Shares of the company have jumped more than 30 per cent in the last 6 months.

AIA Engineering Limited shares surged over 2.33 per cent on Monday hitting a fresh 52-week high of Rs 3,824.75 on the BSE. The board of the company has recommended a dividend at the rate of Rs 16 per share (800 per cent) of face value of Rs 2.00 each on equity shares for the financial year ended March 31, 2023. The said dividend, if declared by the shareholders at the ensuing Annual General Meeting, will be credited on or before October 18, 2023. The company has kept the record date on September 12, 2023. Owning to the record date on September 12, 2023, the stock witnessed heavy buying today on September 11, 2023.

Shares of AIA Engineering Limited have given multibagger returns during the last three years. The shares of the company jumped from Rs 1747.75 on September 11, 2020, to Rs 3801.60 on September 11, 2023, an increase of about 110 per cent in the three-year holding period.

Today, the stock of AIA Engineering Limited opened at Rs 3729.00, with a high and low of Rs 3824.75 and Rs 3704.55, respectively. The stock closed trading at Rs 3809.00, up by 2.33 per cent. The stock has a 52-week high of Rs 3,824.75 and a 52-week low of Rs 2,385.00.

AIA Engineering is a manufacturer of high-chrome grinding media, liners and diaphragms, collectively known as mill internals. These are used for crushing and grinding operations in the cement, power utility & aggregates and mining industries. AIA has one manufacturing subsidiary in India and nine marketing entities overseas. Capacity of 440,000 TPA is being expanded to 520,000 TPA.

Disclaimer: The article is for informational purposes only and not investment advice.