1:2 Bonus Shares, Rs 2.70/Share Dividend: Buy Large Cap Paint Stock, TP Rs 370: ICICI Securities

ICICI Securities has assigned buy call to large cap paint stock, Kansai Nerolac Paints Ltd and assigned target price of Rs 370 per share. Last trading price of Kansai Nerolac Paints shares on BSE is Rs 295.90 apiece with intraday fall of 1.09%. The company has a market capitalisation of Rs 23,919.95 crore. Kansai Nerolac Paints recommended 1:2 bonus share and Rs 2.70/share dividend in 2023. Check details below:

Kansai Nerolac Paints Shares Performance & Return: The 52-week high price of Kansai Nerolac Paints shares on BSE is Rs 355.00 per share and 52-week low price is Rs 247.59 per share, respectively. Kansai Nerolac Paints shares declined 10% in last 1-month, gave return of over 7% in last 1-year, fell 21% in last 3-years, and soared 330% in last 10-years.

Kansai Nerolac Paints Dividend History: Kansai Nerolac Paints announced 29 dividends since July 19, 2001. In the past 12 months, Kansai Nerolac Paints Ltd announced an equity dividend amounting to Rs 2.70 per share. At the current share price of Rs 295.90, Kansai Nerolac Paints Ltd.'s dividend yield is 0.91%. Adjusting for Bonus/Splits the dividend yield is 0.61%.

Kansai Nerolac Paints Bonus Shares History: Kansai Nerolac Paints Ltd. has given 3 bonuses since August 13, 2004. The last Bonus that Kansai Nerolac Paints announced was in the ratio 1:2 with ex-date as July 4, 2023. Earlier, it declared bonus issue in 1:1 proportion in 2010 and in the ratio of 2:3 in 2004.

Kansai Nerolac Financials: The company for the quarter ended December 31, 2023 declared its net sales at Rs 1918.71 crore, up 5.03% as compared to Rs 1826.81 crore in December 2022. It declared its quarterly net profit for the December 2023 quarter at Rs 154.26 crore, up 40.34% as against Rs 109.92 crore in December 2022. The EBITDA stood at Rs. 264.13 crore in December 2023, up 30.2% as compared to Rs 202.86 crore in similar quarter of last year. It EPS declined to Rs. 1.91 in December 2023 from Rs. 2.04 in December 2022

Kansai Nerolac About: Kansai Nerolac is the second largest coating company in India and a market leader in Industrial Coatings. In 1920, Gahagan Paints and Varnish came into being at Lower Parel in Mumbai. A century later, this paint company continues to be in an enviable position- that of being the second largest paint company in India and one of the most trusted names in the industry, as per its official website.

Disclaimer:

The stock has been picked from the brokerage report of ICICI Securities. 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.