Engineering Stock Sets Dividend Record Date, Trading 25% Down From 52-Week High

Mid cap engineering sector company, Greaves Cotton Ltd fixed August 3, 2023 as the record date for payment of dividend of Rs 0.90 per equity share of face value of Rs 2 each for FY 2023. Last trading price of Greaves Cotton share is Rs 138.30 per share with intraday gain of 2.90% as of July 11, 2023. Currently, Greaves Cotton stock is trading 25% down from its 52-week high price of Rs 184.50 per share. Check details below:

Greaves Cotton Sets Record Date For Dividend: As per the BSE filing of Greaves Cotton dated July 11, 2023, "The dividend, if approved at the 104th AGM, will be paid, subject to deduction of income tax at source, to those members whose name will appear in the Company's Register of Members / Register of Beneficial Owners as on close of Thursday, 3rd August, 2023 (record date) and will be paid on or before Friday, 8th September, 2023."

Earlier, the company in its May 12 BSE filing recommended payment of dividend of Rs. 0.90 per share (45%) on the face value of Rs. 2 each for the financial year ended 31st March, 2023, subject to approval of the shareholders at the ensuing annual general meeting of the Company.

Greaves Cotton Stock Outlook & Return: Last trading price of Greaves Cotton stock is Rs 138.30 per share on BSE. Its 52-week high price is Rs 184.50 per share and 52-week low price is Rs 118.70 per share, respectively. Its market capitalisation is Rs 3208.56 crore. Greaves Cotton shares offered return of 3% in last 1-months, declined 14% in last 1-year, fell again 18% in last 2-years, and delivered 58% return in last 3-years.

Greaves Cotton Financial Performance: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 850.70 crore, up 60.11% from previous quarter total income of Rs 531.33 crore. It announced its net profit after tax at Rs 29.02 crore in latest quarter.

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