Dont miss the chance to get a 1,400 per cent dividend in this outperforming stock!
The total pay-out towards dividend would amount to Rs 4,051 crore as per the company statement.
Nifty Auto index delivered a stunning performance last week as it jumped nearly 7 per cent and formed a sizeable bullish candle on the weekly chart, which shows a directional consensus of the market participants on the upside. Moreover, the analysis of relative rotation graphs (RRG) shows that Nifty Auto index is placed inside the leading quadrant, which further reaffirms that the sector is placed in a sweet spot.
The majority of the stocks from the auto index delivered handsome performance but one stock that demands special attention in the days to come is Bajaj Auto.
You might be wondering why this stock requires special attention in the near future! Don’t worry, we’ll discuss the same in this article itself!
To begin with, the stock gained over 5 per cent last week. The start to the fresh trading session has been promising and technically, it is trading above its important moving averages. Moreover, all these moving averages are in the desired sequence. This is just the teaser; the main story is that the stock has declared a dividend of a whopping Rs 140 i.e. 1,400 per cent of the face value of Rs 10 each on equity shares for the financial year ended March 31, 2022.
One of the major stocks of Bajaj Group i.e. Bajaj Auto is going to turn ex-dividend on June 30 (Thursday) while its record date has been fixed at July 1, 2022, for the finalisation of eligible shareholders for dividend payment.
The total pay-out towards dividend would amount to Rs 4,051 crore as per the company statement.
Meanwhile, the meeting of the company's board of directors is scheduled today to further deliberate on the proposal for the buyback of its fully paid-up equity shares.
The stock has outperformed Nifty Auto index on a YTD basis as it jumped nearly 19 per cent as against Nifty Auto index, which inched higher by 7.11 per cent.