Rs. 55 Dividend: Record Date Fixed On November 27; Buy For The Monetary Deal?

Founded in 1921, Ingersoll-Rand (India) is a prominent player in the Indian compressor market, specialising in the production and distribution of industrial air compressors as well as offering a comprehensive line of industry-leading gear pumps, including lubrication, magnetically coupled, and industrial process. incorporated in Calcutta, West Bengal, as a private limited company in 1921.

Ingersoll Rand India Dividend

"In continuation to our earlier communication vide letter dated November 12, 2024 regarding the record date, please be informed that the record date for payment of the interim dividend of Rs. 55/- per equity share for the year ending on March 31, 2025 has been revised and now fixed as Wednesday, November 27, 2024," said the company in a stock exchange filing.

Ingersoll Rand India Financials

In the September 2024 quarter, the company's net sales were Rs 322.10 crore, up 16.57% from the September 2023 quarter's Rs 276.31 crore. In Q2FY25, its net profit was Rs. 60.35 crore, up 21.4% from Q2FY24's Rs. 49.71 crore. EBITDA increased 18.48% from Rs. 72.13 crore in the September 2023 quarter to Rs. 85.46 crore in the September 2024 quarter.

Ingersoll Rand India Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "Ingersoll Rand (INGERRAND) is currently trading at Rs 4,098.40, and the stock is exhibiting signs of a descending triangle pattern, which could signal a potential continuation of the recent downtrend if support breaks. The price is currently holding above a key support level, the 200-day EMA, indicating stability at these levels. On the daily chart, the stock is range-bound between Rs 4,000 and Rs 4,400, suggesting that sideways movement may continue in the near term. A break below the Rs 4,000 level could trigger further downside, with potential targets at Rs 3,900 and Rs 3,800."

"Conversely, immediate resistance lies near Rs 4,250, which the stock would need to surpass for any meaningful upside. The Relative Strength Index (RSI) is currently at 40 and trending downward, indicating weak buying momentum and supporting a sideways to bearish outlook. INGERRAND is trading near support levels and showing a descending triangle pattern, signalling caution for traders. The stock remains in a range between Rs 4,000 and Rs 4,400, with a downside breakout below Rs 4,000 likely leading to further correction. Traders may find Rs 4,000 an attractive level for buying on dips, while any move above Rs 4,250 could signal strength," the analyst further commented.

Disclaimer

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