530% Interim Dividend: November 14 Record Date; Buy To Be A Beneficial Shareholder?

Energy storage solutions, the production of lithium-ion batteries, a variety of EV chargers, Li-ion battery pack assembly, automotive and industrial lubricants and services offered by Amara Raja Energy & Mobility Limited (ARE&M). In India, ARE&M is also among the largest producers of energy storage devices for use in automobiles and industries. Major telecom service providers, telecom equipment manufacturers, UPS companies (OEM & Replacement), Indian Railways, and the Power, Oil & Gas industry divisions all use Amara Raja as their supplier.

Amara Raja Energy & Mobility Dividend

"Pursuant to Regulation 30, 42 and 43 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors had declared an interim dividend of Rs.5.30/- per equity share (representing 530%) of Re.1/- each fully paid up for the financial year 2024-25 and the said interim dividend will be paid on or before December 03, 2024. Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, the Board of Directors had fixed Thursday, November 14, 2024 as the "Record Date" for the purpose of payment of Interim Dividend for the Financial Year 2024-25. Accordingly, members whose name appear as on close of business hours as on November 14, 2024 (a) as beneficial owners as per the details furnished by the Depositories in respect of shares held in electronic form and (b) as members in the Register of Members would be entitled for the said interim dividend pay-out," said the company in a stock exchange filing.

Amara Raja Energy & Mobility Financials

Amara Raja said on Monday that its net profit for the second quarter, which ended on September 30, 2024, increased 6.3% year over year (YoY) to Rs 240.7 crore. Amara Raja Energy & Mobility had a net profit of Rs 226.4 crore in the same quarter of the previous fiscal year. The company's revenue from operations climbed 11.6% to Rs 3,135.8 crore in Q2FY25 from Rs 2,811.1 crore in Q2FY24. Compared to Q2 of FY24, when EBITDA was Rs 409.8 crore, it increased 7.5% to Rs 440.7 crore in the second quarter of the current fiscal year. In the quarter under review, the EBITDA margin was 14.1%, down from 14.6% during the same time in the prior fiscal year.

Amara Raja Energy & Mobility Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "ARE_M is currently trading around 1319.55, having recently bounced back from support near 1220, close to its 200-day EMA. This indicates the stock's ability to maintain stability at these levels. The stock is currently trading below its 20-day EMA and the 50-day EMA, indicating that it needs to overcome these moving averages to signal a strong recovery. A breakout above these levels would support a bullish move toward the target of Rs 1444. With a shift in momentum, trading volumes have risen slightly on the downside, hinting at reduced market enthusiasm."

"If the price sustains above the 20-day and 50-day EMAs, it could strengthen the bullish case for a move toward Rs 1444. Traders should watch for volume spikes and price action near these EMAs for confirmation. The recent low of around Rs 1220 is acting as a support level, where some buyers are stepping in. If ARE_M falls below this support, it could continue its downtrend with a stop-loss at Rs 1212. A breakout above the resistance from the EMA Rs 1370 would strengthen the case for short-term gains, potentially leading to a target of Rs 1444 in the coming sessions," the analyst further added.

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.