Rs. 45/Share Dividend: Payable In December; Initiate Fresh Buying To Book Profits?

The Procter & Gamble Company's subsidiary Gillette India Ltd. produces, distributes, and markets body care and shaving products for men. A variety of products are available from Gillette India, such as aftershave, shaving cream, shaving gel, and razor blades. Among its brands are Gillette, Guard3, Fusion5, and Mach 3. There are production sites for Gillette India at Baddi, Himachal Pradesh, and Bhiwadi, Rajasthan.

Gillette India Dividend

The Board of Directors of the company have recommended a dividend of Rs. 45 per equity share at a face value of Rs. 10/- each for the financial year ended June 30, 2024. The dividend shall be paid between December 3, 2024 to December 25,2024, on approval of the Members at the 40th Annual General Meeting, as per a stock exchange filing of Gillette India.

"We would like to inform you that the 40th Annual General Meeting of the Company is to be held on Tuesday, December 3, 2024. We would further like to inform you that the Register of Members and Share Transfer books shall remain closed from Wednesday, November 27, 2024, to Tuesday, December 3, 2024 (both days inclusive) for the purposes of Annual General Meeting and payment of dividend for the year ended June 30, 2024, if approved by members at the 40th Annual General Meeting. The notice convening the 40th Annual General Meeting of the Company will be provided in due course of time," said the company in a regulatory filing.

Gillette India Financials

For the June 2024 quarter, Gillette India Ltd. recorded a 26.4% increase in profit after tax (PAT) to Rs 115.97 crore. Gillette India Ltd (GIL) stated in a BSE filing that the company, which relies on the July-June fiscal year, posted a profit of Rs 91.75 crore in the same period last year. From Rs 619.44 crore in the same time last year to Rs 645.33 crore during the quarter under review, its revenue from operations climbed by 4.17%. In the June quarter, Gillette India's overall expenses dropped by 1.17% to Rs 494.68 crore. At Rs 411.70 crore, the company's net profit for the fiscal year that ended on June 30, 2024, jumped by 15.75%. For the fiscal year, its revenue from operations went up 6.3% to Rs 2,633.085 crore.

Gillette India Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "The stock GILLETTE is showing a sideways move after a strong upward move forming higher high higher low formation. The stock is currently trading at 8900 and has been consolidating in a range of 8750-9180 levels. The key support levels are around 8750 levels, if stock breaks the mentioned support levels we can witness further correction towards the next support of 8370 levels which is also close to its short-term (20 Day) EMA levels. Currently, the stock is trading above all the important moving averages."

"The Relative Strength Index (RSI) is currently at 71 indicating moderate bullish momentum and is also below the overbought zone. Traders holding stock from lower levels can book partial profits and can hold with a trailing stop loss of 8750 levels to manage risk effectively. This precaution will help protect your investment in the event of an unexpected market reversal. Fresh buying can be considered by the traders only if stock sustains above the resistance of 9180 levels for the target of 9550 levels," the analyst further recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.