Hefty Dividend of Rs 150: Ex-Date On 14 June; A Good Buying Opportunity Near The Rs 4222 Levels?

The company's shares are listed on the BSE Limited and National Stock Exchange of India Limited, and VST Industries maintains its registered office in Azamabad, Hyderabad. The company's main business operations are the production and distribution of cigarettes and unprocessed tobacco. It has manufacturing facilities in Hyderabad and Toopran, Telangana. The BSE 500 FMCG stock is probably going to be the center of attention because it will trade ex-dividend on June 14th, offering a payment of Rs 150 per share.

VST Industries Dividend

The final dividend of Rs. 150/-per equity share, at a face value of Rs. 10/-per share, has been authorised by the Board of Directors. If accepted by the shareholders at the 93rd Annual General Meeting, the dividend will be paid out within 30 days.

"Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 this is to inform you that the Register of Members and Share Transfer Books of the Company will remain closed from 15.6.2024 to 21.6.2024 (both days inclusive) for the purpose of payment of dividend. The 93rd Annual General Meeting of the Company has been scheduled to be held on 25th July, 2024," said VST Industries in a regulatory filing.

As per the data available on BSE, VST Industries has fixed 14th June as the ex-dividend date for the above payout.

VST Industries

In the quarter that ended in March 2024, VST Industries' net profit increased by 28.38% to Rs 88.20 crore, from Rs 68.70 crore in the quarter that ended in March 2023. In Q4FY24, sales climbed by 24.35% to Rs 374.13 crore from Rs 300.86 crore in Q4FY23. Net profit for the entire year dropped 7.77% to Rs 301.57 crore in the year that ended in March 2024 from Rs 326.98 crore in the year that ended in March 2023. Sales improved 9.85% from Rs 1290.11 crore in FY23 to Rs 1417.20 crore in FY24.

VST Industries Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "VSTIND Ltd is currently trading at Rs 4365 and has shown a strong rally from lower levels, forming a higher high and higher low pattern, the immediate support for VSTIND is at Rs 4085. closely aligned with the 20-day Exponential Moving Average (EMA), signifies historical buying interest and provides a foundation for the stock's price stability. This level serves as a potential stop for downward movements."

"There is a good buying opportunity near the Rs 4222 levels for those looking to go long on the stock. If the price breaks the Rs 4422 mark, stock can move towards 4888 levels and higher. For a cautious approach, buying on dips is suggested at Rs 4222 with a stop-loss (SL) at Rs 4085. The target for this trade is Rs 4888. In summary, VSTIND presents potential buying opportunities, but investors should closely monitor the stock's price movement and implement appropriate risk management strategies to protect their investments," Deven Mehata added.