Dividend Stock: Gujarat Toolroom To Reward Shareholders With 165 pc Dividend 1 Month After Bagging Mega RIL Order
Dividend Stock: A smallcap company Gujarat Toolroom is all set to reward the shareholders with a whopping up to 165 per cent dividend for the current financial year. The company has also informed the exchanges that a meeting of the board of directors is scheduled to take place on Monday, 8th April to consider and approve the corporate action. The company in a statement, said “The proposed dividend is expected to be in the range of 100 – 165%.”
“We are pleased to announce that the company is in a profitable position and maintains sufficient reserves to undertake this action,” it said in the latest regulatory filing.
Mega Order from Reliance Industries
The company in March 2024 secured a major construction supplies order worth Rs 29 crore from Reliance Industries after which the shares of the smallcap firm witnessed considerable northward run, making investors yield rich gains.
“Gujarat Toolroom Limited is pleased to announce that it has recently secured a significant order worth Rs 290 million from Reliance Industries Limited for construction supplies. This substantial order underscores the trust and confidence that Reliance Industries Limited has placed in GTL’s capabilities and quality of service,” said the company in an exchange filing on the BSE.
Gujarat Toolroom Limited Share Price Today
Gujarat Toolroom share price hit the upper circuit in Monday’s trading session to quote at Rs 42.52 a share on the Bombay Stock Exchange (BSE), hitting the upper price band of 5 per cent. The counter opened with a gain of 2.47 per cent today and touched an intraday high of Rs Rs 42.52 apiece, outperforming the sector by 2.35 per cent. It is trading higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.
A total of 1.21 lakh shares changed hands today of Gujarat Toolroom generating a total turnover of Rs 51.25 lakh. The smallcap company has a market cap of Rs 236.21 crore, as per BSE website. The shares of the company have a PE of 1.15x.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
