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Business News/ Markets / Stock Markets/  Metal stock is 54% above 52-week-low, check record date for interim dividend
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Metal stock is 54% above 52-week-low, check record date for interim dividend

With a market valuation of ₹171.12 Cr, Sarthak Metals Ltd. is a small-cap business that operates in the industrial industry.

The shares of Sarthak Metals Limited closed today on the NSE at ₹125.80 apiece level, down by 1.83% from the previous close of ₹128.15. (REUTERS)Premium
The shares of Sarthak Metals Limited closed today on the NSE at 125.80 apiece level, down by 1.83% from the previous close of 128.15. (REUTERS)

With a market valuation of 171.12 Cr, Sarthak Metals Ltd. is a small-cap business that operates in the industrial industry. Sarthak has a sizable customer base throughout India, supplying steel products to the leading steel production businesses in the nation. The corporation has announced an interim dividend rate of Re. 1 or 10% per equity share with a face value of Rs. 10 each for the fiscal year 2021–2022. For the purpose of the same, the record date has been declared by the company for determining shareholders' eligibility.

The company has said in a stock exchange filing that its Board of Directors has “considered and declared the Interim Dividend at the rate of Re. 1/- (Rupee One) (10%) per Equity Share bearing Face Value of Rs. 10/- each for the financial year 2021-22. The Interim Dividend will be paid on or before 19th January, 2023. Further pursuant to the provisions of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Friday, 30th December, 2022 has been fixed as 'Record Date' to determine the list of eligible members for the payment of Interim Dividend."

The shares of Sarthak Metals Limited closed today on the NSE at 125.80 apiece level, down by 1.83% from the previous close of 128.15. The stock recorded a total volume of 42,978 shares compared to the 20-Day average volume of 45,217 shares. Sarthak Metals IPO was launched at an issue size of 10.9 Cr and at an offering price of 30 per share and on March 27, 2017, the company went public on the stock exchanges. The stock has appreciated 3.24% during the previous five years since its IPO. The stock has gained 4.36% over the past year, and YTD in 2022, it has climbed 3.54%. 

The stock had touched a 52-week-high of 169.00 on (15-September-2022) and a 52-week-low of 81.50 on (20-June-2022), indicating that at the current market price the stock is trading 25.56% below the 1-year high and 54.35% above the 1 year low. For the quarter ended September 2022 or Q2FY23, the company reported a promoter shareholding of 69.83% and a public stake of 30.17%. Sarthak Metals is a virtually debt-free company and in the last 5 years, the company has reported good sales and profit growth.

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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: 23 Dec 2022, 06:07 PM IST
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