Rakesh Jhunjhunwala portfolio stock plunges ahead of record date for dividend

Market


Shares of State-run National Aluminium Company (Nalco) plunged in Wednesday’s trading session, a day ahead of its record date fixed on November 25, 2021 for payment of interim dividend for the financial year 2021-22. The board of directors approved payment of interim dividend at 2 per share (40% on Face value of Rs. 5/- each) on the paid-up equity share capital of 918.3 crore.

“The payment of interim dividend shall be made on or before 10.12.2021 to all eligible shareholders, whose names appear in the Register of· Members as on Record Date i.e. 25.11.2021,” Nalco had informed.

Interim Dividend will be paid to those shareholders whose names appear: as beneficial owners as at the end of the business on 25.11.2021 as per the beneficial owners position to be downloaded by NSDL and CDSL in respect of the shares held in the electronic form and b. as members in the Register of Members of the Company, after giving effect to transmission/transposition if any, in physical form lodged with the company on or before 25.11.2021.

As per BSE shareholding pattern, Indian ace investor and stock market trader Rakesh Jhunjhunwala holds 1.36% stake in PSU company Nalco as of September 2021. Shares of Nalco have given multibagger return this year (year-to-date or YTD) so far as the stock has surged over 118% in 2021. Nalco is a navratna CPSE under Ministry of Mines. The company has integrated and diversified operations in mining, metal, and power.

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