Rs 28/ Share Dividend: Small-Cap Stock To Turn Ex-Dividend On 24th Nov; Buy?

Within the capital goods industry, Morganite Crucible (India) is a small-cap firm. Crucibles and related refractory products are produced and sold by Morganite Crucible (India) Limited. The firm produces crucibles made of silicon carbide, clay graphite, and carbon and graphite accessories.

In Aurangabad, India, Morganite Crucible (India) Limited is headquartered. Morgan Advanced Materials plc's subsidiary is Morganite Crucible (India) Limited. With a face value of Rs 5, the company has announced an interim dividend of 560% for FY24. The record date for the purpose is 24th November and due to the T+1 settlement mechanism, the stock is going to trade ex-dividend tomorrow on Friday.

Morganite Crucible Dividend

"The Board of Directors in their meeting held on November 09, 2023, has fixed record date for payment of interim dividend of Rs. 28/- per equity share to those members whose name appear in the Register of Member as on November 24, 2023," said the company in a stock exchange filing.

Morganite Crucible Q2 Results

The company reported a net sales of Rs 45.35 crore in the September 2023 quarter up 16.73% from Rs. 38.85 crore in the September 2022 quarter. Its net profit jumped by 112.78% from Rs. 3.91 crore in Q2FY23 to Rs. 8.31 crore in Q2FY24. EBITDA reached Rs. 13.97 crore in the quarter under review up 95.66% from Rs. 7.14 crore in the year-ago quarter. From Rs. 6.98 in September 2022 to Rs. 14.85 in September 2023, Morganite India's EPS has grown.

Morganite Crucible Share Price Target

MORGANITE is a small-cap company with a total market cap of Rs 959 Cr. It has delivered 72% return in just 1 year. Right now it is trading in a very small range. Its Beta is only 0.30 its slow moving stock and available at a discounted PE ratio of 40 (approx.) which is 20% lower than its sector. One more thing to notice is dividend yield parentage. which is 130% of its sector. Swing Traders and Long-term investors can bet on it in 1760 (closing based) and can consider targets of 1900 to 2500. Keep a strict stop loss of 1530 to catch this possible breakout movement, said V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).

Disclaimer

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