580 percent dividend announced: Mukul Agrawal's wife and Bharat Jain's multibagger small-cap stock declares its highest-ever dividend!

The impressive ascent of the stock, surging by nearly 167 per cent over the past year, positions it as a formidable multibagger.

The Indian benchmark indices are radiating optimism this Friday. The Nifty and Sensex have surged by an impressive 0.90 per cent, propelling the Nifty towards the 21,650 mark, while the Sensex comfortably maintains its position above the 71,800 mark. This bullish trend is encompassing all sectoral indices, with the Nifty financial services and Nifty Metal leading the charge, each registering a commendable uptick of over 1 per cent.

Amidst this exuberance, one Small-Cap gem shining on the bourses is KDDL Ltd. The stock has witnessed a robust surge of over 3 per cent, currently trading at Rs 2,845 per share on the NSE. Established in 1981, KDDL has carved a niche for itself by manufacturing precision watch components such as dials and hands, operating under the brand name Eigen. The company stands as a prominent supplier of high-quality dials and hands to watch manufacturers in both India and Switzerland.

What sets KDDL apart is its significant presence in Switzerland through subsidiaries Pylania SA and Estima AG. Pylania SA is engaged in trading, while Estima AG focuses on manufacturing dials and hands for Swiss watch companies. Additionally, KDDL's subsidiary, Ethos, incorporated in 2003, is a key player in the retailing of luxury watches in India.

The impressive ascent of KDDL's stock, surging by nearly 167 per cent over the past year, positions it as a formidable multibagger. Adding to this financial milestone, the company, in its meeting on Thursday, January 18, 2024, declared an interim dividend of Rs. 58 per equity share (580 per cent of face value Rs. 10/- each) for the financial year 2023-24. This announcement not only underscores the company's robust financial performance but also stands as its highest-ever dividend declaration. The Interim Dividend, in compliance with the Companies Act, 2013, will be disbursed within 30 days from the date of declaration.

Another noteworthy aspect that elevates the allure of KDDL is the strategic holdings by renowned investors. Asha Agrawal, the wife of ace investor Mukul Agrawal, holds a substantial 4,34,180 shares of the company. In tandem, Bharat C Jain is also aligned with the company's prospects, holding 2,30,000 shares. This endorsement by seasoned investors underscores the market confidence in KDDL's growth trajectory and potential. As the market landscape continues to evolve, KDDL stands out as a compelling player, blending robust financial performance, strategic partnerships, and investor confidence.

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