This Kalyani Group stock declares record date for final dividend

Market


With a market valuation of 29,688 crore, Bharat Forge Ltd. is a large-cap company that operates in the auto ancillary industry. The company is a market pioneer in the automotive industry, providing services to a number of industries, including mining, oil & gas, railways, aerospace, marine, oil & gas, and construction. A $3 billion corporation with 10,000 employees worldwide that is a member of the Kalyani Group makes Bharat Forge one of India’s top forging firms. The firm currently has twelve production facilities located across India, Germany, Sweden, France, and North America, enabling it a worldwide footprint. The largest automotive forging firm in India, Bharat Forge is also the world’s top producer of chassis parts and a prominent exporter of automobile components.

For the purpose of 275% dividend for the financial year 2021-22, the company on 21st June 2022 has informed BSE that “the Board of Directors of the Company at its meeting held on Monday, May 16, 2022, had inter alia recommended final dividend of Rs. 5.50/- i.e. at the rate of 275% per equity share having face value of Rs. 2/- each for the financial year ended on March 31, 2022, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.”

“Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the purpose of determining entitlement of members to final dividend, the Company has fixed Friday, July 15, 2022 as the Record Date. The payment of dividend, if approved at the 61 st Annual General Meeting of the Company to be held on Friday, August 12, 2022 will be made on or after Friday, August 19, 2022,” said the company in BSE filing.

In trade today, the stock of Bharat Forge reached an intraday low of Rs. 631.55, down by -2.45 per cent, and closed at Rs. 635.00, down 1.83 per cent from its previous close of Rs. 646.8. The stock has dropped 13.11 per cent in the last year, and so far in 2022, it has fallen 10.68 per cent according to a year-to-date (YTD) basis. The stock has declined 8.94 per cent over the past six months, and 8.05 per cent during the past month. The stock has dropped 2.52 per cent over the past week and 3.64 per cent over the previous five trading days. The stock’s 52-week high on the NSE was 847.95 on November 10, 2021, and its 52-week low was 595.00 on March 8, 2022, signifying that at its current price of 635, the stock is trading 25.11 per cent below its 52-week high and 6.72 per cent above its 52-week low. Bharat Forge is trading below the 5 days, 20-day, 50-day, 100-day, and 200-day moving averages based on today’s closing price.

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