Home / Markets / Stock Markets /  Board of debt-free multibagger stock fixes record date for dividend

With a market valuation of Rs. 623.83 Cr., Indraprastha Medical Corporation Limited is a small-cap company that engages in the healthcare industry. A variety of diagnostic and medical services are provided by this Delhi-based healthcare organisation, which runs under Indraprastha Apollo Hospital. Indraprastha Medical Corporation Ltd., according to Value Research, is a debt-free company, which may sound interesting to investors. However, what may sound even more exciting is that the company has declared a dividend of Rs. 2.50 per share (i.e. 25% on face value of Rs. 10 per share) for the financial year 2021–22. The dividend yield goes to 3.68% at the current market price of 67.90.

The Board of Directors of the company has said in a regulatory filing that “The dividend, on shares for the year 2021-22@ Rs. 2.50 per share (i.e 25% on face value of Rs. 10 per share), if declared by the members at the AGM, shall be paid to those members whose names appear: as members on the Register of Members of the Company as on 23rd September, 2022 after giving effect to all valid transmission or transposition requests lodged with the Company for the shares held in physical form up to the closing hours of business on 16th September 2022; and as beneficial owners as per the list to be furnished by NSDL/CDSL as at the closing hours of business on 16th September, 2022."

Indraprastha Medical Corporation Limited's shares closed at 67.90 on Friday, up 1.19% from the previous close of 67.10 a share. The share price climbed from 6.60 on January 1st, 1999 to the current market price, representing a multibagger return and an all-time high of 928.79%. The stock has gained by 25.62 per cent over the past five years and by more than 84% during the past three. The stock has dropped 7.11% over the past year, and on a year-to-date basis, it has fallen 13.67% so far in 2022. On Friday, there were 3,26,344 shares traded in total on the NSE, with a value of 221.59 lakhs. The 20-Day average trading volume for the stock is 203,939 shares. At the current market price of 67.90, the stock is trading 22.40% below the 52-week high and 30.45% above the 52-week low on the NSE, where it reached a 52-week high of 87.50 on 03-December-2021 and a 52-week low of 52.05 on 20-June-2022.

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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