2:1 Bonus Share: Multibagger FMCG Stock Tumbles 3.94% After Update On Bonus Issue, Buy Or Sell?

Godfrey Phillips Ltd shares price witnessed decline of 3.94% after it issued fresh update on bonus shares on September 20, 2024. Last trading price of Godfrey Phillips shares on BSE is Rs 7309.50 per share (as on September 24, 2024). Godfrey Phillips stock price was Rs 7309.00 on September 20, 2024 when it recommended bonus share. The stock delivered multibagger returns of 250% so far in 2024. The company's market capitalisation stood at Rs 38,004.96 crore. HSBC midcap fund has 1.33% stake in Godfrey Phillips with 691,750 shares of the company. Check key details below:

Should You Buy or Sell Godfrey Phillips Shares? According to A R Ramachandran, Independent SEBI Research analyst, "Godfrey Phillips is bearish on the Daily charts with strong resistance at 7950. A Daily close below support of 7300 could lead to target of 5335 in the near term."

Godfrey Phillips Dividend In 2024: Godfrey Phillips also recommended Rs 56/share dividend and ex-bonus date was fixed as August 23, 2024.

Godfrey Phillips Issues Update On Bonus Share: As per the September 20, 2024 BSE filing, "the Board of Directors of the Company ('Board'), at its meeting held today i.e. 20th September 2024, considered the matter of issuance of Bonus Shares. After detailed discussions, it was decided that the Company needs to seek appropriate clarification/approval from the Regulator i.e. Reserve Bank of India (RBI) in respect of issue of Bonus Shares to the Non Resident shareholders (including those covered under the Foreign Direct Investment (FDI) and Foreign Portfolio Investment), having regard to the fact that the Company is engaged in manufacture of cigarette and other tobacco products wherein FDI is currently prohibited."

Shareholding: FII/FPI have increased holdings from 10.76% to 10.83% in June 2024 quarter. Number of FII/FPI investors increased from 157 to 160 in June 2024 quarter. Mutual Funds have increased holdings from 1.37% to 1.74% in June 2024 quarter. Number of MF schemes increased from 13 to 15 in June 2024 quarter. Institutional Investors have increased holdings from 12.33% to 12.78% in June 2024 quarter, according to Trendlyne.

Godfrey Phillips Shares Performance: The 52-week high price of Godfrey Phillips share on BSE is Rs 8480.90 per share (as on 16/09/2024) and 52-week low price is Rs 1994.90 per share (as on 26/10/2023), respectively. Godfrey Phillips shares gained 133% in last 6-months, rallied 256% in last 1-year, and offered return of 518% in last 2-years.

Godfrey Phillips Dividend History: The FMCG company declared 25 dividends since April 28, 2000. In last 1-year, Godfrey Phillips announced an equity dividend amounting to Rs 56.00 per share. At the current share price of Rs 7309.50 per share, Godfrey Phillips India offers a dividend yield of 0.77%.

About: Godfrey Phillips India is one of the largest FMCG companies in the country with many iconic cigarette brands like Four Square, Red & White, and Cavanders to its name. Godfrey Phillips India has expanded its product portfolio beyond cigarettes and tobacco and entered India's highly competitive confectionery segment and retail, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.