Bonus Alert: Single-digit PE & high ROE multibagger stock to give free shares after 7 years!
The stock gave multibagger returns of over 100 per cent in just 1 year whereas BSE Mid-Cap Index is up by 60 per cent.
Hindustan Petroleum Corporation Ltd (HPCL) is scheduled to hold a board meeting on May 9, 2024, to discuss and approve their financial results for the year ending March 31st, 2024. Additionally, the board will consider recommending a final equity dividend for the financial year 2023-2024. During this meeting, they will also propose issuing bonus equity shares to shareholders, subject to company member approval. This meeting will also decide the record date for determining who qualifies for the bonus shares.
Recently, the Board of the company gave an interim dividend of Rs 15 per share have a face value of Rs 10 each which had an ex-record date of February 07, 20224. Earlier, the company announced bonus shares in the ratio 1:2 i.e., 1 bonus share for every 2 shares held by equity shares holders as of the record date which was 7 years ago on July 11, 2017.
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Hindustan Petroleum Corporation Ltd, a major player in India's energy sector, refines crude oil and markets a wide range of petroleum products, from fuels like petrol and diesel to lubricants. They're also involved in the upstream side of the industry, producing hydrocarbons (oil and natural gas), and even provide services to manage Exploration & Production Blocks for themselves or other companies. The company’s maximum stake is owned by the Oil & Natural Gas Corporation Ltd (ONGC) i.e., 54.90 per cent.
The shares of the company have a PE of 5x and an ROE of 38.4 per cent. The stock gave multibagger returns of over 100 per cent in just 1 year whereas BSE Mid-Cap Index is up by 60 per cent. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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