2 Stocks To Hit Ex-Date On Budget Day For 300% Interim Dividend In FY24: Buy Any?

On this Budget Day, February 1, Havells India and Tips Industries are the two companies that will go ex-dividend. For FY24, the two firms have announced an interim dividend of 300%, with February 1st set as the record date.

Havells India Dividend

"The Board of Directors has also declared an Interim Dividend of Rs. 3.00 per Equity Share of Re. 1/- each i.e. @ 300% on the Equity Share Capital of the Company. The same shall be payable to all those Shareholders whose names appear in the Register of Members as on the Record Date i.e. 01.02.2024 (a separate intimation of the same has already been given to the Exchanges vide letter dated 16.01.2024). The Dividend shall be paid/ dispatched to the shareholders on or before 30 days from the date of its declaration i.e. on or before 21st February, 2024," said Havells India in a stock exchange filing.

Havells India Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said in the dynamic landscape of the current stock market, Havells stands out as a promising opportunity, trading at Rs 1297 and undergoing a minor pullback alongside sideways consolidation. The stock's strategic positioning near the 200-day Exponential Moving Average (EMA) has established a notable support level, signalling the potential for a bounce and further upward movement, with a targeted peak at Rs 1370. This positive trajectory gains emphasis from a substantial support zone identified near Rs 1250 on the downside.

A pivotal observation reveals Havells current trading position in close proximity to critical Exponential Moving Averages, including the 200-day EMAs. This signifies a quick bullish reversal momentum, reinforcing expectations of sustained upward price action.

Implementing sound risk management practices, market participants are encouraged to set a stop-loss at Rs 1235, providing a protective shield for their investment. The strategic approach further involves actively exploring buying opportunities during market dips, aiming to optimize entry points for investors.

A comprehensive analysis of technical indicators and a thorough evaluation of prevailing market conditions underscore Havells as a promising buying prospect. With a target price set at Rs 1370, contingent upon the implementation of prudent risk management measures, this stock presents an attractive proposition for investors seeking potential gains in the current market environment.

The observed support levels, combined with the bullish momentum, contribute to a positive and promising outlook for Havells in the dynamic landscape of technical analysis. Investors are urged to consider this opportunity thoughtfully, aligning their strategies with the observed market dynamics and potential for sustained growth in Havells.

Tips Industries

For the fiscal year 2023-2024, the company's Board of Directors has announced a third interim dividend of Rs. 3/-per equity share, or 300 per cent, on fully paid-up equity shares with a face value of Re. 1/-per share. The third interim dividend payment record date has been set for February 1, 2024. Payment of the interim dividend is scheduled for February 16, 2024, at the latest.

Tips Industries Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said TIPSINDLTD is currently trading at 428 levels, showcasing a consistent higher high and higher low pattern over the past four days, indicating underlying strength. The stock maintains a positive stance by trading above crucial short-term (20 Day), medium-term (50 Day), and long-term (200 Day) Exponential Moving Average (EMA) levels. A robust support level resides at 395, closely aligned with its 20 Day EMA, offering a reliable foundation.

Investors who entered at lower levels can consider booking partial profits at the current market price (CMP) while retaining the remaining quantity with a trailing stop loss set at 395. For potential new investments, a prudent strategy is to await a dip in the stock towards 415 levels before considering entry.

On the upside, the stock exhibits the potential to ascend towards 450 levels and potentially reach 520 levels based on Fibonacci extension patterns identified on weekly charts. This assessment provides investors with a comprehensive view, allowing for informed decision-making and risk management in their approach to TIPSINDLTD.

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.