Rs. 5 Dividend: February 14 - Record Date, To Be Paid By March 16; Time To Invest?

In the early 1980s, Majestic Auto Limited was India's largest moped manufacturer. Up until 2017, it also produced electrical and automotive components. The business Majestic Auto Ltd. was established in 1973. In 2015, Majestic Auto Limited made its foray into the commercial real estate market by offering facility management services and leasing office space. The business operates out of a building called "Knowledge Boulevard," which is owned by Emirates Technologies Private Limited (ETPL), a subsidiary. In 2019, the business opened an industrial leasing facility in Greater Noida.

Majestic Auto Dividend

The Board of Directors considered and approved "Interim dividend of Rs. 5/- per share for the financial year 2024-25 after considering distributable profits and the opportunities available for strengthening and growth of its business. Accordingly, the board has fixed February 14, 2025, as the record date for determining the entitlement of members for the purpose of payment of interim dividend. The payment of interim dividend/ dispatch of dividend warrants will be completed by March 16, 2025," said the company in a stock exchange filing.

Majestic Auto Q3 Financials

The company's December 2024 quarter net sales of Rs 17.24 crore represented a 15.13% growth over the December 2023 quarter's net sales of Rs 14.97 crore. The company's December 2024 quarter net loss was Rs. 3.02 crore, a 141.27% drop from the December 2023 quarter's net profit of Rs. 7.31 crore. EBITDA dropped 77.79% from Rs. 15.94 crore in Q3FY24 to Rs. 3.54 crore in Q3FY25.

Majestic Auto Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "MAJESAUT is currently trading at ₹395 and is in a phase of sideways consolidation. Over the past several months, the price has been moving within a range, forming a broadening wedge pattern. Recently, the stock experienced a breakdown from this consolidation range, leading to a sharp decline in price. However, it remains near the 200-day Exponential Moving Average (EMA), which has acted as strong support. If the stock manages to stage a recovery from current levels, it could potentially move towards a short-term target of ₹450."

"On the downside, immediate support is located at ₹385-₹380. The Relative Strength Index (RSI) is currently at 41.55 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at ₹370 is suggested to guard against any unexpected market reversals. In conclusion, based on the technical analysis and current market conditions, MAJESAUT presents a promising buying opportunity for those aiming for a ₹450 target, provided that appropriate risk management strategies are in place," the analyst further commented.

Disclaimer

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