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Business News/ Markets / Stock Markets/  At 53% above its 52-week-low, this debt-free stock to go ex-dividend tomorrow
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At 53% above its 52-week-low, this debt-free stock to go ex-dividend tomorrow

A small-cap company with a market cap of Rs. 2,828 crore that operates in the industrial sector is Kirloskar Pneumatic Company Ltd. (KPCL).

The shares of Kirloskar Pneumatic Company closed at ₹438.60 level on Friday, up by 1.42% from its previous close of ₹432.45.Premium
The shares of Kirloskar Pneumatic Company closed at 438.60 level on Friday, up by 1.42% from its previous close of 432.45.

A small-cap company with a market cap of Rs. 2,828 crore that operates in the industrial sector is Kirloskar Pneumatic Company Ltd. (KPCL) which has a product line that includes industrial gearboxes, process gas systems, vapour absorption systems, air compressors, and air conditioning and refrigeration systems. Oil, Gas, Steel, Cement, Food and Beverage, Railways, Defense, and Marine are just a few of the industries that KPCL serves. India's 50 per cent CNG stations are driven by KPCL and also the company holds a 70% domestic market share for ammonia refrigeration and also KPCL is the first Indian company approved for hydrocarbon refrigeration systems and the first supplier of traction gears to Indian Railways. The company's board of directors has recommended a final dividend of 120 per cent (Rs. 2.40 per equity share) for the fiscal year 2021–2022; the record date for that dividend has been set for July 12, 2022, which implies the stock will trade ex-dividend on July 11 i.e. tomorrow.

In stock exchange filings, the company has said “As informed to you earlier, the Board at its meeting held on April 28, 2022, has recommended a final dividend of 120% (Rs. 2.40 per equity share) for the Financial Year 2021-22, subject to approval of Members at the ensuing AGM. Further, this is to inform you that the dividend, if declared, by the Members at the AGM, subject to deduction of tax at source, wherever applicable, will be paid to those Members Whose names appear as Beneficial Owners as at the end of the business hours on Tuesday, July 12, 2022 in the list of Beneficial Owners to be furnished by National Securities Depository Limited and Central Depository Services (India) Limited in respect of equity shares held in electronic form; and Whose names appear as Members in the Register of Members of the Company after giving effect to valid share transmissions / deletion of names in physical form lodged with the Company / its Registrar and Share Transfer Agent on or before Tuesday, July 12, 2022."

The shares of Kirloskar Pneumatic Company closed at 438.60 level on Friday, up by 1.42% from its previous close of 432.45. At the current market price, the stock is trading 53.59 per cent above the 52-week low and 14.64 per cent below the 52-week high on the BSE, where it reached a 52-week high of 513.85 on 17/01/2022 and a 52-week low of 285.55 on 23/08/2021. As per the data available on Value Research, the company is virtually debt-free, and currently, the company holds a promoter shareholding of 53.67% which is the lowest since Sep 2019.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 10 Jul 2022, 08:09 PM IST
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