Multibagger stock shall pay 400% final dividend soon: Details inside

Market


Eldeco Housing & Industries Ltd. is a small-cap company with a market capitalization of Rs. 650.80 crore that is involved in the consumer discretionary goods & services (CDGS) sector. Eldeco Group is the leading real estate builder and developer in India. The Group has two main companies Eldeco Housing and Industries Ltd. (EHIL) and Eldeco Infrastructure and Properties Ltd. (EIPL). EHIL, which was founded in 1985, has served as the industrial sector’s major project provider for more than three decades across the country, having been headquartered in Lucknow.

The company has said in stock exchange filings that “The Board of Directors at their meeting held on May 13, 2022, had recommended a final dividend of Rs. 8/- (400%) per equity share of face value of Rs. 2/- each for the approval of the shareholders of the Company at the AGM scheduled to be held on Wednesday, September 28, 2022. Pursuant to Regulation 42 of the SEBI Listing Regulations, the Company has fixed Wednesday, September 21, 2022 as the Record Date for determining entitlement of members to final dividend for the financial year ended March 31, 2022. The final dividend as recommended by the Board of Directors, if approved at the AGM, will be paid (subject to deduction of tax at source) to the members/beneficial owners within 30 days of it being declared as under: a) To all Beneficial Owners in respect of shares held in dematerialized form as per the data made available by the National Securities Depository Limited and the Central Depository Services (India) Limited as on the close of business hours on Wednesday, September 21, 2022; b) To all Members in respect of shares held in physical form after giving effect to valid transmission or transposition requests lodged with the Company as of the close of business hours on Wednesday, September 21, 2022.”

The shares of Eldeco Housing And Industries Ltd closed today at 668.45 apiece on the BSE, down by 1.13% from the previous close of 661. The stock has produced a multibagger return of 1956.77% over the past ten years and a multibagger return of 276.87% during the past five years. The stock has appreciated 73.26% over the past three years and 7.54% over the past year. The stock has dropped 24.64% YTD so far in 2022 and gained 23.56% in the previous month. The stock had touched a 52-week-high of 976.80 on (11/01/2022) and a 52-week-low of 498.35 on (26/05/2022), indicating that at the current market price the stock is trading 31.56% below the high and 34.13% above the low.

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