Dividend Yield 2.45%: Maharatna PSU Co To Consider Dividend, Results On Jan 29

Maharatna multibagger stock GAIL (India) shares witnessed a decline of 0.70% despite the company declaring that its Board of Directors will consider recommendation for payment of interim dividend for FY 2023-24 at the upcoming meeting on January 29, 2024.

Last trading price of GAIL share on BSE is Rs 163.00 apiece. GAIL shares soared 50% in last 6-months and gained 67% in last 1-year. The company will also consider and approve its financial results on January 29, 2024. Check details below:

GAIL (India) To Consider Interim Dividend, Financial Results: As per the BSE filing of the company dated January 18, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 29th January, 2024 to, inter-alia, consider the Un-Audited Financial Results for the Quarter ended 31st December, 2023 and recommendation for payment of Interim Dividend for FY 2023-24."

GAIL (India) Sets Record Date For Interim Dividend: As per the regulatory filing of the company dated today, "For the purpose of payment of Interim Dividend, if so approved by the Board, the "Record Date" will be Tuesday, 06th February, 2024."

GAIL (India) Share Performance & Return: The 52-week high price of GAIL (India) share on BSE is Rs 169.35 apiece and 52-week low price is Rs 91.00 apiece, respectively. The company has a market capitalisation of Rs 1,07,404.25 crore. GAIL shares plunged 2.04% year-to-date, gained 50% in last 6-months, surged 71% in last 2-years, and offered rally of 77% in last 3-years. In last 5-years, GAIL (India) shares soared 51%.

GAIL Dividend History: GAIL (India) declared 46 dividends since September 3, 2001. In last 12 months, GAIL (India) announced an equity dividend amounting to Rs 4.00 per share. At the current share price of Rs163.00, GAIL (India) offers a dividend yield of 2.45%, according to Trendlyne.

Motilal Oswal Recommends Buy, Upgrades Target Price: Brokerage firm Motilal Oswal has already highlighted GAIL (India) as its top pick for the new year. The analyst has upgraded the target price of GAIL (India) share to Rs 195 apiece and recommended buy call. Motilal Oswal expects a combination of the upcoming gas price-related tariff hikes, a 32% Compounded Annual Growth Rate (CAGR) in the company's EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) and the onset of new projects will drive a re-rating for GAIL going forward.

GAIL (India) Financials: The leading PSU Maharatna company declared a surge of 56% in its standalone profit for the quarter ended September 2023 to Rs 2405 crore as against Rs 1537.07 crore in the similar quarter of last fiscal. However, GAIL declared a fall of 17.32% in its total revenue to Rs 31,822 crore as compared to Rs 38,490.89 crore in the corresponding quarter of last year. It declared a surge of 67% in its profit before tax to Rs 3130.10 crore in Q2 of current fiscal as against Rs 1875.91 crore in the corresponding period of last year. The company's earnings per share surged to Rs 3.66 in Q2 from Rs 2.34 in September 2022 quarter.

About GAIL (India) Ltd: It came into existence in August 1984 as a Central Public Sector Undertaking (PSU) under the Ministry of Petroleum & Natural Gas (MoP&NG). The company was initially given the responsibility of construction, operation & maintenance of the Hazira - Vijaypur -Jagdishpur (HVJ) pipeline Project. It was one of the largest cross-country natural gas pipeline projects in the world. Government approved grant of Maharatna status to Gas Authority of India Ltd. (GAIL). This decision was communicated on 1st February, 2013.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. 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.