Bajaj Group Stock: Rs 60 Dividend Ahead, Ex-Date On 28 June; Buy The Shares?

Listed on both the BSE Limited and the National Stock Exchange of India Limited, Maharashtra Scooters Limited is a subsidiary of Bajaj Holdings and Investment Limited. The company's present manufacturing activity is the production of pressure die casting dies, castings, jigs, and fixtures, mostly designed for the two and three-wheeler sectors among other industries.

Maharashtra Scooters Upcoming Dividend

"We are pleased to inform you that the Board of Directors of the Company at their meeting held on 24 April 2024, recommended dividend of Rs 60 per equity share of the face value of Rs 10 each, for the financial year ended 31 March 2024. The dividend, if approved by the shareholders at the ensuing Annual General Meeting ('AGM') scheduled on Monday, 22 July 2024, will be credited/ dispatched on Friday, 26 July 2024 and/ or Saturday, 27 July 2024, to all those shareholders holding shares in physical and electronic from as on record date i.e., Friday, 28 June 2024," said the company in a regulatory filing.

Maharashtra Scooters Q1FY25 Result Date

"A meeting of the Board of Directors of the Company will be held on Monday, 22 July 2024, inter-alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ending 30 June 2024. Further, this is to inform you that, pursuant to the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015 and in accordance with the Company's Code of Conduct, the Trading window for dealing in the securities of the Company will remain closed from Monday, 1 July 2024 till Wednesday, 24 July 2024 (both days inclusive), for designated persons," said Maharashtra Scooters in a stock exchange filing on 24 June 2024.

Maharashtra Scooters Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "MAHSCOOTER has recently shown considerable strength and upward momentum in trading sessions marked by high volume. The stock is currently trading at 8999, the stock has effectively bounced back from a support zone near 8100, closely aligning with its 20-day Exponential Moving Average (EMA). This recovery not only indicates the stock's resilience but also signals a positive trend in its trajectory. The noteworthy aspect is MAHSCOOTER positioning above key moving averages, including the 20-day EMA, highlighting its inherent strength. The Relative Strength Index (RSI), a significant momentum indicator, is on the rise and currently stands at 79 levels."

"Looking forward, MAHSCOOTER is poised to confront its next challenge at the resistance level of 9500. The stock's ability to maintain its position above crucial support levels during pullbacks underscores a solid technical setup. For investors who entered at lower levels, employing trailing stop losses with a protective buffer near the important support level of 8075 is a prudent risk management strategy. In summary, the technical analysis paints a positive picture for MAHSCOOTER, indicating the potential for further upward movement and instilling confidence in investors. The stock's solid recovery, favourable positioning above key averages, and the rising momentum suggest a promising outlook for those tracking MAHSCOOTER in the stock market," the analyst added.

Disclaimer

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