Rs. 400 Dividend: August 23 - Record Date; Buy At Rs. 39,850 - 40,000 & Keep SL At Rs. 31,200 For Target?

The Yamuna Syndicate deals in the marketing and trade of several products. The company was founded in 1955 and its registered office is located at Radaur Road, Yamunanagar-135 001 (Haryana), opposite to the Saraswati Sugar Mill. The company has a long history of dealing in a broad range of products, components, and consumables associated with the automobile sector, agrochemicals, and consumer and industrial electronics. The Yamuna Syndicate Ltd. has been a significant franchisee of M/s. Amara Raja Batteries Ltd. since 2001, and it is involved in the distribution of the reputable AMARON line of automobile batteries.

The Yamuna Syndicate Dividend

"The Company has fixed Friday, August 23, 2024 as the "Cut-off Date" for determining the eligibility of members to vote by remote e-voting or e-voting at the AGM. Further, Pursuant to Regulation 42 of the Listing Regulations, the Register of Members and Share Transfer Books of the Company shall remain closed from Saturday, August 24, 2024 to Friday, August 30, 2024 (both days inclusive) and Friday, August 23, 2024 shall be taken as Record date for determining entitlement of members for payment of dividend of Rs. 400/- per equity share of Rs. 100/- each, as recommended by the Board of Directors for the financial year ended March 31, 2024 subject to approval of the Members in the AGM," said the company in a stock exchange filing.

The Yamuna Syndicate Q1 Results

Yamuna Syndicate's net profit increased by 28.60% to Rs 30.17 crore in the quarter that ended in June 2024 compared to Rs 23.46 crore in the quarter that ended in June 2023. In Q1FY25, sales dropped 9.46% to Rs 19.34 crore from Rs 21.36 crore in Q1FY24.

The Yamuna Syndicate Share Price Target

"Yamuna Syndicate Ltd.'s decision to offer a dividend of Rs. 400 per share has garnered significant attention from market participants. The company's stock is currently trading 20% below its all-time high price. However, my analysis suggests that a further dip is possible. So, I would discourage buying its units at an overbought price. Those interested can consider the buying range of Rs. 39,850 to 40,000 for a target price of Rs. 50,000-65,000. However, they must set a stop loss of Rs. 31,200 if they plan to hold this stock for 1-5 months," recommended V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.