Multibagger debt-free stock announces Rs. 22.50 per share interim dividend

Market


With a market valuation of Rs. 511.08 crore, TAAL Enterprises Ltd. is a small-cap company that offers transport services. Global enterprises are served by the specialised Engineering and Technology Solutions supplier TAAL Tech. Air Charter Solutions have been a focus of TAAL’s for 15 successfull years. According to Value Research’s data, TAAL Enterprises is a debt-free company, which is noteworthy. However, the icing on the cake is that the firm has announced an interim dividend of Rs. 22.50 (225%) per equity share of Rs. 10 for the fiscal year 2022–23.

The company has said in a regulatory filing that “In pursuance of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the ‘Listing Regulations’), please be informed that the Board of Directors at its meeting held today on Friday, September 16, 2022, have inter-alia considered and approved the Declaration of Interim Dividend of Rs. 22.50/- (225%) per Equity Share of Rs. 10/- each for the FY 2022-23. Pursuant to Regulation 42 of the Listing Regulations, the record date, i.e., September 24, 2022, for the purpose of payment of the Interim Dividend has been already intimated to the Exchange vide our earlier letter dt. September 13, 2022. The Interim Dividend will be paid/dispatched to the shareholders on or before October 15, 2022. The aforesaid Board Meeting commenced at 10.30 a.m. and concluded at 10.45 a.m. on September 16, 2022.”

On the BSE, TAAL Enterprises Ltd. shares closed today at Rs. 1,645.90 a piece, up 0.45% from the previous close of Rs. 1,638.45. The stock price has soared from 253.30 on July 8, 2016, to the current market price, marking a multibagger return and an all-time high of 549.78% in the last six years. The stock price has skyrocketed from 148.70 as of 22nd September 2017 to the current market price which logs in a multibagger return of 1,006.86% in the last 5 years. In the last 3 years, the stock has generated a multibagger return of 558.49% and in the last 1 year, the stock has gained 65.88%. On a YTD basis, the stock has fallen 21.69% so far in 2022. The stock had touched a 52-week-high of 2,524.85 on (07/01/2022) and a 52-week-low of 930.00 on (04/10/2021), indicating that at today’s closing price the stock was last seen trading 34.81% below the high and 76.97% above the low.

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