Get Rs. 110/Share Dividend: Record Date 25 September, Payable By 10 October; BUY/SELL?

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 Indian company Maharashtra Scooters Ltd. (MSL) produces and markets pressure die casting dies, fixtures, jigs, and additional components for the two- and three-wheeler industries. Pune, India serves as the company's headquarters. It was established on June 11, 1975.

Maharashtra Scooters Dividend

"An Interim Dividend of Rs. 110 (1100%) per equity share of face value of Rs. 10, for the financial year ending 31 March 2025 has been declared by the Board at its meeting held today i.e. 12 September 2024. Further, pursuant to Regulation 42 of the SEBI Listing Regulations, the record date for the purpose of determining the members eligible to receive the Interim Dividend has been fixed as Wednesday, 25 September 2024. The aforesaid Interim Dividend shall be credited / dispatched on or around Thursday, 10 October 2024, to the eligible shareholders as on the said Record Date," said the company in a stock exchange filing.

Maharashtra Scooters Financials

On a stand-alone basis, Maharashtra Scooters Limited recorded net sales of Rs 7.72 crore for the June 2024 quarter, up 46.77% from Rs. 5.26 crore for the June 2023 quarter. In Q1FY25, the company's net profit was Rs. 8.26 crore, up 1620.83% from Rs. 0.48 crore in Q1FY24. From Rs. 1.21 crore in the quarter ended in June 2023 to Rs. 2.83 crore in the quarter ended in June 2024, EBITDA has increased by 133.88%.

Maharashtra Scooters Share Price Target

KKUNAL V PARAR - VP OF TECHNICAL RESEARCH AND ALGO at Choice Broking said, "The stock has recently broken out of its range-bound movement on the daily chart, indicating a potential for further upside from current levels. It is trading in uncharted territory with above-average volumes, reflecting strong positive momentum. Additionally, the stock is trading above all its long-term moving averages, confirming the continuation of a bullish trend."

"The daily RSI is trending above the 50 mark, suggesting a healthy positive outlook. Considering this technical setup, we anticipate an upside move toward the 11,000-11,400 range, with a strict stop loss at 10,100," he further recommended.

Disclaimer

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