1:2 Stock Split: Buy Navratna Dividend PSU Showing Upside Potential For TP Rs 295, Says PL

Leading Navratna PSU Engineers India Ltd share today jumped 8.64% on BSE (till 2:51 pm). Current market price of Engineers India share on BSE is Rs 249.05 per share Engineers India shares offered attractive return of 127% in last 1-year. Brokerage firm Prabhudas Lilladher has recommended buy call to Engineers India Ltd share with target price of Rs 295 per share and keep stop loss at Rs 225 per share. Earlier this year on May 28, 2024, Board of Directors of EIL also recommended a final dividend of Re 1/- per share on the face value of Rs 5/- each for the FY 2023-24. Engineers India split the face value of its share once in 2010 in the ratio of 1:2.

Prabhudas Lilladher Gives Buy To Engineers India Shares: The analyst said, "the stock has indicated a rising trend overall with currently witnessing a decent pullback moving past the significant 50EMA level of 236 to improve the bias and anticipating for further rise in the coming days. The RSI is well placed correcting from the overbought zone and has indicated a trend reversal to signal a buy. With the chart looking good, with much upside potential visible from the current rate, we suggest to buy the stock for an upside target of 295 keeping the stop loss of 225."

Engineers India Ltd Q4 Results: It announced standalone net profit for the quarter ended March 31, 2024 at Rs 90.93 crore, down 42.71% as compared the net profit of Rs 158.72 crore declared in the corresponding quarter of last year. EIL's revenue from operations for the March 2024 quarter declared at Rs 790.27 crore as against Rs 866.14 crore announced in the corresponding quarter of last year. Total standalone income of EIL for the quarter ended March 31, 2024 declared at Rs 846.39 crore from Rs 915.48 crore in March 2023. EIL's March 2024 quarter profit before tax announced at Rs 116.44 crore from Rs 204.92 crore announced in March 2023. EPS of Engineers India Ltd for March 2024 quarter announced at Rs 1.62 from Rs 2.83 declared in March 2023.

Engineers India Share Performance & Return: The 52-week high price of Engineers India shares on BSE is Rs 290.00 per share (as on 24/05/2024) and 52-week low price is Rs 107.80 per share (as on 15/06/2023). Engineers India's market capitalisation stood at Rs 13,980.80 crore. Engineers India shares offered 11.80% return in last 1-week only, zoomed 56% in last 6-months, and soared 304% in last 2-years. In last 3-years, Engineers India shares surged 196%.

Engineers India Stock Split History: Engineers India split face value of its share once since May 6, 2010. Engineers India last split face value of its shares from Rs 10 to Rs 5 in 2010.The share traded ex-split on May 6, 2010, according to Trendlyne.

Engineers India Bonus Share History: Engineers India offered 2 bonus issues since May 6, 2010. Last Bonus that Engineers India Ltd declared was in the ratio 1:1 with ex-date fixed as December 30, 2016.

Engineers India Dividend History: Engineers India declared 42 dividends since August 30, 2001.In the past 12 months, Engineers India announced an equity dividend amounting to Rs 3.00 per share. At the current share price of Rs 249.05, Engineers India offers a dividend yield of 1.20%.

LIC Stake In EIL: Life Insurance Corporation of India (LIC) reduced stake in Engineers India by nearly 2% via open market in November 2023. LIC divulged in its BSE filing dated November 23, 2023 that it has sold 1.14 crore shares of the PSU during the period from February 2, 2021 to November 22, 2023 at an average price of Rs 118.08 apiece. Consequently, LIC's entire stake in Engineers India fell to 3.122% from the earlier 5.155%.

About Engineers India: Engineers India Ltd (EIL) is a leading global engineering consultancy and EPC company. Established in 1965, EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries. Engineers India Ltd (EIL), a Navratna PSU, is one of the leading design and engineering organizations in South Asia, according to its Linkedin profile.

Disclaimer:

The stock has been picked from the brokerage report of Prabhudas Lilladher. 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.