Small-Cap Dividend Champion Stock: A 1000 per cent dividend announced led to upper circuit in the stock, know the record date!

The stock is known for its dividend payment and attractive dividend yield. The strong up-move in the stock has resulted into stock scaling to fresh 52-week high. 

Narmada Gelatines is engaged in the manufacture of ossein and gelatin. It is located at Jabalpur and has access to its main and essential inputs of crushed bones, acid, lime and water.   

The stock has performed exceptionally well as it skyrocketed nearly 20 per cent and with this it has reached at the highest level of the day. As a result, the stock is locked at upper circuit limit on a day where the bulls have anything to cheer about, as the RBI hiked repo rate by 35bps and it maintained its hawkish stance on inflation being sticky and the need to maintain its vigil on inflationary expectations.   

The RBI maintained CPI Inflation level projection for FY23 at 6.7 per cent while lower the FY23 GDP projection to 6.8 per cent from 7 per cent projected earlier.   

So, what’s the catalyst for this Small-Cap stock, that it has taken everyone by surprise with its price movement. It is the pleasant surprise by the Board given to its shareholders. The Board of Directors at their meeting held on December 07, 2022 have declared a Special Interim Dividend of Rs.100/- per equity share (i.e., 1000 per cent) of the face value of Rs. 10 each fully paid up, for the Financial Year 2022-23.   

The said dividend of Rs.100/- per equity share shall be paid to the eligible shareholders of the company within 30 days from the date of declaration. Record date will be Thursday, December 15, 2022.   

The stock is known for its dividend payment and attractive dividend yield. The strong up-move in the stock has resulted into stock scaling to fresh 52-week high.