Upcoming Dividend of Rs. 8 From CRISIL: Payable By August 12; Buy/Sell/Add?

CRISIL provides intelligence, benchmarks, analytics and transformative solutions to organizations. Approximately 7,000 large and mid-scale corporates and financial institutions now have exceptional ratings with it. 4,600+ employees worldwide, representing 40+ nationalities in 12 countries, with around 39% of them being women. For the fourth consecutive year, CRISIL has been certified as a "Great Place to Work" in India and has been named one of the Top 100 Best Workplaces for Women in India.

CRISIL Dividend

"The Board of Directors has also approved the payment of Second Interim dividend of Rs. 8 per equity share of face value of Re 1 each, for the financial year ending December 31, 2024, which will be paid on August 12, 2024," said CRISIL in a stock exchange filing.

CRISIL Financial Results For June 30, 2024 (Q2 2024) Quarter

Consolidated income from operations for CRISIL climbed 3.4% to Rs 797.4 crore in Q2 2024 from Rs 771.0 crore in the same quarter the year before. In Q2 2024, consolidated total income increased 3.4% to Rs 815.4 crore from Rs 788.8 crore in the same quarter the previous year. In Q2 2024, profit before tax rose 6.7% to Rs 208.0 crore from Rs 195.0 crore in the same period the previous year.

For the half-year that ended on June 30, 2024 (H1 2024), CRISIL's consolidated revenue from operations increased by 3.3% to Rs 1,535.0 crore, up from Rs 1,485.9 crore during the same time the previous year. In H 1 2024, consolidated total income climbed 3.5% to Rs 1,574.2 crore from Rs 1,521.0 crore in the same period the previous year. In H1 2024, profit before tax rose 3.8% to Rs 403.5 crore from Rs 388.6 crore during the same period the previous year.

CRISIL Share Price Target

"CRISIL is trading at Rs. 4,356 and its price momentum suggests a good buying opportunity near Rs. 4,200, i.e., 130 points below its current level. However, if the price falls further, you can average your position around Rs. 4,100. So, for those interested in CRISIL stocks, I suggest buying between Rs. 4,100 and 4,200 to target a price between Rs. 4,520 and 5,000. For this stock, I advise a holding period of 10-25 weeks, while adhering strictly to the stop loss of Rs. 3,940 to limit the risk," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

KKunal V Parar - VP of Technical Research and Algo at Choice Broking said, "Based on the technical analysis, the stock is showing promising signs of a potential bounce-back: Daily Chart: The stock is trading near its strong support at the lower band of a Broadening Rising Wedge formation, indicating a likely upward move. Additionally, it is supported by the 50-day Moving Average, reinforcing a positive trend."

"Hourly Chart: The stock is trading within an upward-rising channel, further confirming the positive trend. Momentum Indicator: The daily chart's RSI (Relative Strength Index) is above 50, indicating positive momentum. Given this technical structure, we anticipate a significant upside potential, targeting levels between 4375 and 4565, with a strict stop-loss at 4100," KKunal V Parar further added.

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.