Rs 12.70/Share Dividend: Large-Cap Stock To Hit Ex-Date This Week; Buy?

At the end of the Saturday trading session, the market capitalization of large-cap stock broker Angel One Ltd was Rs 27,252.42 Cr. The stock saw selling pressure throughout the closing session, wrapping up 2.71% down at Rs 3246.25 per share. The sell-off pressure in the shares of Angel One was witnessed as the company is going to hit ex-date this week on 23rd January for the purpose of 3rd interim dividend for FY24.

Angel One Dividend

The third interim dividend, payable at the rate of Rs. 12.70 per share on equity shares with a face value of Rs. 10, has been announced by the Board for the Financial Year 2023-2024. Furthermore, Tuesday, January 23, 2024 will serve as the record date for evaluating a shareholder's eligibility to receive payment of the aforementioned interim dividend, as announced by the Board of Directors. The members whose names are listed as beneficial owners of the shares as of the close of business on Tuesday, January 23, 2024-the record date fixed for that purpose-in the depositories' records or the register of members shall receive the dividend on or before February 14, 2024, according to Angel One.

Angel One Financials

In the third quarter that ended on December 31, Angel One's consolidated profit was Rs 260. 3 crore, up 14..2% YoY from Rs 228 crore in the same time the previous year, according to an exchange filing. Angel One recorded total sales of Rs 1,059 crore for Q3FY24, a 41.5% rise from Rs 748.6 crore in Q3FY23. The company claims that its EBITDA jumped by 22.7% YoY, from Rs 324.30 Cr in Q3FY23 to Rs 397.9 Cr in Q3FY24. The company reports that its Average Daily Turnover (ADTO) climbed from Rs 29.6 trillion in Q2 24 to Rs 36.0 trillion in Q3 24 on a quarterly basis, a 21.4% rise.

Angel One Share Price Target

Angel One stock price is bearish on the Daily charts with strong resistance at 3600. A daily close below support of 3134 could lead to 2815 in the near term, AR Ramachandran from Tips2trades said.

Disclaimer

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