Multibagger stock revises record date for Rs. 30 per share dividend: Do you own?

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Ingersoll Rand India Limited is a mid-cap business that works in the industrial sector with a market value of Rs. 7,368 Cr. The company provides goods and services such as compressor systems, power tools, hoisting, and material handling and has more than 160 years of experience in these fields. The record date for the payment of the interim dividend was originally set for November 21, 2022, however, it has now been changed to November 23, 2022. The firm has announced a dividend of 30 per share for its eligible shareholders.

The company said today in a stock exchange filing that “In continuation to our earlier communication vide letters dated November 11, 2022 and November 14, 2022, regarding the record date for payment of the interim dividend of Rs. 30/- per equity share for the year ending on March 31, 2023, please be informed that the record date has been revised and fixed as Wednesday, November 23, 2022. There is no change in dividend payment date and interim dividend will be paid on December 8, 2022.”

For the fiscal year that ends on March 31, 2023, the board of directors has announced an interim dividend of Rs. 30 per equity share including a special dividend of Rs. 23 apiece with a face value of Rs. 10 each.

In comparison to the 248.92 crore reported in Q2FY22 and the 273.23 crore Cr in Q1FY23, the firm reported net sales of 253.94 crore in Q2FY23. This represents a YoY gain of 2.01% but a QoQ decline of 7.05%. With a YoY rise of 36.18% and a QoQ growth of 10.40%, the firm declared a net profit of 35.45 crore Cr in Q2FY23 compared to 32.11 crore Cr in Q1FY23 and 26.03 crore recorded in Q2FY22. In Q2FY23, the EPS increased to 11.23 per share from 10.17 in Q1FY23 and 8.25 in Q2FY22.

The closing price of the shares of Ingersoll Rand India Limited was 2,335.00 per share, up 2.90 per cent from the previous closure of 2,269.10. Today’s total volume for the stock was 51,474 shares, vs the 20-Day average volume of 28,432 shares. The stock has produced a multibagger return of 194.41% over the past five years and a multibagger return of 277.32% during the past three years. The stock has appreciated 76.24% over the past year, and it has climbed 88.21% YTD in 2022. For the quarter that ended September or Q2FY23, the company posted a promoter shareholding of 75.00%, FIIs stake of 0.57%, DIIs stake of 5.93% and a public stake of 18.50%. 

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