This stock nears 16% to 52-week-low ahead of the dividend payout
1 min read 27 Jun 2022, 07:17 PM ISTWith a market valuation of ₹181 crore, Indag Rubber Ltd. is a small-cap company which operates in the rubber industry.
PremiumWith a market valuation of ₹181 crore, Indag Rubber Ltd. is a small-cap company which operates in the rubber industry. The firm has been producing top-quality retreading products and related goods for more than 40 years, including precured tread rubber (PTR) for all kinds of automobiles and road purposes. The shares of Indag Rubber closed at ₹69.00 on the BSE, a gain of 0.51 per cent from the previous close. After reaching its intraday high today, the stock is now 16 per cent closer to its 52-week low of Rs. 59.00 was recorded on March 31, 2022.
On July 22, 2021, the stock reached a 52-week high of ₹117.30 on the BSE, meaning that shares of Indag Rubber Ltd are currently trading at a 41 per cent discount from the 52-week-high. For the fiscal year 2021–2022, the company's board has recommended a final dividend of Rs. 1.50 per equity share of Rs. 2. Indag Rubber has announced a 120.00% equity dividend, or ₹2.4 per share, for the fiscal year ending March 2022 ( ₹0.90 previous dividend) which takes the dividend yield at the current share price of ₹69 to 3.47 per cent.
For the purpose of dividend the company, today announced the record date for its shareholders. The company has said in BSE exchange filing that “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the record date for the purpose of Dividend is Thursday, 21st July, 2022 for Demat Shareholders and Thursday, 28th July 2022 for Physical Shareholders and the Register of Members of the Company will remain closed from Friday, 22nd July, 2022 till Thursday, 28th July, 2022 (both days inclusive) for the purpose of Annual General Meeting (AGM) and also for determining eligibility for Dividend."
The stock has fallen 25.69 per cent in the last year, and so far in 2022, it has declined 14.87 per cent according to a year-to-date (YTD) basis. The stock, however, has gained by 5.42 per cent over the past five trading sessions and 4.39 per cent over the past month. The stock is trading above the 5 and 20-day moving averages currently, but below the 50, 100, and 200-day moving averages. The stock's book value per share is Rs. 78.68, meaning that it is now trading for 0.87 times its book value.
