Bajaj Group Multibagger Stock Fixes Record Date To Pay 150% Dividend: Details Inside

Bajaj Electricals Limited (BEL), a globally renowned and trusted company with a turnover of ₹4,987 crores (FY 19-20) is a part of Bajaj Group. Bajaj Electricals business is spread across - consumer products (appliances, fans, lighting), exports, and EPC (illumination, transmission towers and power distribution). BEL also has a strong presence in premium home appliances and cookware segments with brands like Morphy Richards and Nirlep.

The company has a market capitalization of Rs 13,255 crore. The board of the company has fixed record date to pay dividend of 150% to its shareholders. Check details below:

1. Bajaj Electricals to pay 150% dividend

The board has approved an equity dividend of 150% or Rs 3 per share. The board of directors of the company in its BSE filing stated, "The Board at its Meeting has recommended a final dividend at the rate of Rs.3.00 per share (150%) of face value of Rs. 2/‐ each on equity shares of the Company for the financial year ended March 31, 2022, subject to the approval of the shareholders at the ensuing 83rd Annual General Meeting ("AGM") of the Company."

The dividend on equity shares, if declared at the AGM, will be credited/dispatched as under: a) to all those shareholders holding shares in physical form, as per the details provided by share transfer agent of the Company i.e., Link Intime India Private Limited to the Company, as of or before the closing hours on Friday, July 29, 2022; and b) to all those beneficial owners holding shares in electronic form, as per the beneficial ownership data made available to the Company by National Securities Depository Ltd. (NSDL) and the Central Depository Services (India) Ltd. (CDSL) as of the close of business hours on Friday, July 29, 2022.

The ex-dividend date is 28/07/2022.

 

2. Bajaj Electricals stock outlook

The current market price of the stock is Rs 1153.60 apiece. The 52-week high is Rs 1588 and 52-week low is 858 apiece. Recently, brokers have upgraded recommendations or target price for the stock.

Multibagger returns: The stock has given multibagger returns. The stock has given returns of 158% in 3 years and 242% in 5 years.

5. About Bajaj Electricals

To increase its footprint globally and in India, BEL has partnered with reputed brands from across the world to give you the best possible services. BEL has marketing arrangements with and Securiton of Switzerland for Luminaires, Delta Controls of Canada for Integrated Building Management Systems, Greystone of Canada and Magnum Energy of the USA for Wired and Wireless Sensors, DiUSA and Midea of China for Fans, and Morphy Richards of UK for Appliances. Bajaj Electricals has also invested in Starlite Lighting for manufacturing energy-saving lamps (CFL).