High Dividend Yield PSU Stock Set to Fly Further After 125 pc Returns in 1 Year; Analyst Upbeat Over Mega Expansion Plans
Balmer Lawrie Share Price Target 2024, Balmer Lawrie Share Price History, Balmer Lawrie Share Price Today News BSE NSE: Diversified PSU Balmer Lawrie share price zoomed to Rs 260.25 apiece intraday, rising 6.14 per cent from its previous close of Rs 245.20 per share on the National Stock Exchange (NSE). The counter gained after two days of consecutive fall, outperforming the sector by 3.24 per cent. The scrip is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The sharp uptick in the stock price was witnessed after the company announced that it plans to add more business verticals to its existing ones over the next three years. With an overall revenue of around Rs 2,300 crore at present, its eight business verticals are industrial packaging, greases and lubricants, refinery and oilfield services, chemicals, logistics services, logistics infrastructure, cold chain, travel and vacations.
Balmer Lawrie Share Price Target 2024
Balmer Lawrie, an Indian central public sector undertaking with a robust presence in both manufacturing and service sectors of industrial greases and specialty lubricants, steel barrels, corporate travel, and logistics services. Company has recently garnered the attention of those exploring dip buying opportunities.
According to VA Ambala, SEBI Registered Research Analyst and Co-Founder of Stock Market, the current RSI of the stock stands at 57 on the daily chart and 69 on the monthly timeframe. This monthly RSI suggests a potential for its stock price correction in the near future and for that one has to the miss this short term momentum. As per my analysis, traders can expect a healthy pullback on a higher timeframe, creating a lucrative dip buying opportunity, hence investing should be done in parts in it. Individuals willing to invest at current price range can enter but be fund ready if you get any dip up to price range of Rs.195-220. Set a target between Rs.250-340. I recommend holding the stock for 20-70 days while following a stringent Stop Loss of Rs 195 to protect gains.
Balmer Lawrie Dividend Yield
The company has had a high dividend yield of 3.05 per cent in the last 12 months at the current levels.
Balmer Lawrie Share Price Today News NSE BSE
The counter settled at Rs 256.50 apiece on the NSE, up by 4.61 per cent. On the BSE, it ended at Rs 256.20 per share, up by 4.49 per cent. A total of 1.08 lakh shares changed hands today of Balmer Lawrie which is a constituent of S&P BSE SmallCap index generating a total turnover of Rs 2.73 crore. The large cap company has a market cap of Rs 4,381.12 crore, as per BSE website. The shares of the company have a PE of 20.76x. In volume terms, over 14.20 lakh shares of the company were traded on the NSE during the day.
Balmer Lawrie Share Price History
The counter has delivered multibagger returns of 125.03 per cent in the last 365 days. It moved north of 15.02 per cent on the Year-to-Date (YTD) return.
Balmer Lawrie CMD Adika Ratna Sekhar said the company would spend Rs 500 crore for foraying into the new verticals over a period of two to three years. “From the present revenue of Rs 2,300 crore, the target is to achieve Rs 6,000 crore in the coming three years,” he said.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of TN Network.)
