Riding the waves: Bajaj group stock witnesses heavy buying as dividend news surfaces!
The company has a track record of maintaining a robust dividend payout ratio of 71.5 per cent.
On Friday, the shares of Bajaj Auto Limited surged 2.39 per cent, currently the shares are trading in green at Rs 4685.60 per share on BSE. The scrip witnessed massive spurt in volume by more than 1.02 times. The intraday high and low are Rs 4735.30 per share and Rs 4631.60 per share, respectively on BSE.
On June30, 2023, the company has announced final dividend of Rs 140 per share.
Additionally, the Company is scheduled to evaluate, among other things, the unaudited financial statements for the first quarter ended 30 June 2023 on Tuesday, July 25, 2023. They will report unaudited financial data for the first quarter ended June 30, 2023, immediately following the Board Meeting on July 25, 2023.
Bajaj Auto, the flagship company of the Bajaj Group, is a two- and three-wheeler manufacturing corporation that exports to 79 countries in Latin America, Southeast Asia, and elsewhere. Its headquarters are located in Pune, India. It now owns 48 per cent of the KTM Brand, which makes sports and super sports two-wheelers, up from 14 per cent when the business first purchased KTM in 2007.
The company demonstrates a commendable track record of maintaining a robust dividend payout ratio of 71.5 per cent, showcasing its commitment to distributing a significant portion of its earnings to shareholders in a prudent and sustainable manner.
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The stock has witnessed significant buying activity as it has surged more than 25 per cent in just one year. Investors to keep close eye on this large-cap automobiles stock.