Rs 33/Share Dividend: Miniratna NBFC Stock To Trade Ex-Dividend Soon For 330%, Buy?

Small-cap NBFC Balmer Lawrie Investments Ltd. operates in the financial services industry. The Ministry of Petroleum & Natural Gas, Government of India, currently has administrative jurisdiction for Balmer Lawrie Investments Limited. According to information available on BSE, the company has announced a final dividend of Rs 33 for FY23, and the ex-dividend date would occur on September 20, 2023.

Balmer Lawrie Investments Dividend

"The Board of Directors at its Meeting held on 30th May, 2023 had recommended a dividend of Rs. 33.00 (Rupees Thirty Three Only) per Equity Share of the face value of Rs.10/- each, fully paid-up. If the dividend as recommended by the Board of Directors is declared at the AGM, dividend shall be paid, subject to deduction of income-tax at source, wherever applicable, to those Members of the Company who are holding shares of the Company as on Wednesday, 20th September, 2023 (end of day) within the statutory time limit of 30 days from the date of such declaration," said Balmer Lawrie Investments in a stock exchange filing.

Balmer Lawrie Investment has announced an equity dividend of 330.00% at a face value of Rs 10, or Rs 33 per share, for the financial year ending March 2023. The dividend yield at the current share price of Rs 477 is 6.91%. The company has a solid track record of dividend declarations during the past five years. Balmer Lawrie Investments Ltd. has issued 22 dividends since September 19, 2003, according to data from Trendlyne.

Balmer Lawrie Investments Financials

On a consolidated basis, the company recorded a net income of Rs 602.47 Cr in the June 2023 quarter down by 8.20% YoY from Rs 656.27 Cr in the June 2022 quarter. The firm recorded EPS of Rs. 3.35 for the quarter ended June 30, 2023 as opposed to Rs. 3.28 for the period ended June 30, 2022. Its net profit was Rs 57.30 Cr in Q1FY24, up 2.11% YoY from Rs 56.12 Cr in Q1FY23.

Balmer Lawrie Investments Share Price Target

Deven Mehata, Equity Research Analyst at Choice Broking said, BLIL, currently trading at Rs 474.9, has formed a rounding bottom pattern on the weekly chart. After a prolonged bullish run, the stock is currently facing a resistance level, suggesting a potential slowdown in price strength. Should the price retrace to the range of Rs 445 to Rs 435, it may offer a buying opportunity on dips.
During the previous week, the stock formed a doji candlestick pattern on the weekly time frame, with significant highs and lows at 490 and 473, respectively. The levels of 490 and 473 are crucial to monitor. If the price closes above 490, it could signal potential upside momentum, with 505 serving as immediate resistance. Conversely, if the stock breaks the 473 level, it may experience further downside, with immediate support at 445-440.

Additionally, BLIL is currently trading above key Exponential Moving Averages (EMAs), including the 20-day, 50-day, 100-day, and 200-day EMAs, highlighting its bullish momentum and the potential for continued upward price movement. The Relative Strength Index (RSI) stands at 71 and is on an upward trajectory, indicating increasing buying momentum.

In summary, based on technical analysis and current market conditions, BLIL appears to be a buy-on-dips opportunity for those considering entry at the Rs 445-Rs435 price level, provided prudent risk management measures are in place.

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.